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Wednesday, 15 December 10
SMALLER DRY BULK VESSELS ARE LOOKING UP, LARGER ONES FAIL TO DELIVER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market lost further ground at the beginning of the week, in what could prove one of the slowest periods ship owners have been faced. Yesterday, the BDI (Baltic Dry Index) lost 0.91% to reach 2,076 points. The index, considered a benchmark for the market, has been hovering around the 2,000 – 2,200 point mark during the past few weeks unable to edge any higher. Once again, it was the larger vessel segments that dragged the market down, as opposed to their smaller counterparts which kept leaping forward. The capesize segment lost 1.15% on the day, with average daily rates now down to $24,852, while panamaxes were down 1.44%.
The BDI is now at the lowest it’s been since early August, with market analysts not quite so optimistic about the rest of the year. In a comment quoted by Bloomberg, Shalini Shekhawat, a Gurgaon, India-based analyst at Drewry Shipping Consultants Ltd. said that “the dry bulk market is showing no signs of improvement. The remainder of of the year will be no better, with iron ore and grain trade being insufficient to absorb the over-supply of tonnage in the market” he said. Shipping rates have fallen 31 percent this year as new vessels entered the fleet. Capesizes will expand 24 percent in 2010, driving overall dry-bulk fleet growth of 17 percent, Clarkson Plc, the world’s largest shipbroker, estimates. Demand will grow 10 percent over the same time, Clarkson said.
In a separate weekly report, John Cotzias Shipping Group said that the past week was another non-decisive one, with the main motive being the total lack of any clear direction and trend. “We feel that going this way on our job as analysts becomes really dull and sometimes we feel practically “useless” as not being able to read and deduct any signals from the super volatile market fluctuations makes us just wonder how ill or not is the fate of the Dry Bulk markets? This week’s interesting moves were those of the Capes that made a small shortlived uprise towards the end of last week that momentarily gave us some happy thoughts that were quickly reversed as the index made 4 consecutive falls closing the week with a bitter after-taste.
The Panamax size segment has already added more fuel to the existing volatility and has altered the uncertain moving pattern to ups and downs that start now to fluctuate every 2-3 days!!!! It is rather odd that only the smaller sizes the Supramaxes and the Handysize ships are on a constant upward sloped pattern, and the Supras after 29 negative Baltic Exchange sessions are already counting 14 consecutive positive sessions and during the past three weeks have regained more than 23% of their strength. On a similar manner the smaller Handies have 13 positive sessions and this seems to be on a steady motive that may last during the week to come.
All large size segments were negative moving and the general Dry Index declined on the pressure produced by the large size segment’s weight. What is worth noting is the fact that all 5 indices produced their year highs during the forth-night of 19/5 until 2/6 and ever since then have all recorded losses of -50% up to -46%, a loss that is equal in percentage terms in all 5 indices despite their varying dynamics and differing level of volatility they portray.
As we mentioned last week too, China has lead the way forward and has given us some positive demand for cargoes and it is China that has generated the much needed and appreciated momentum being the steam engine that gave power to the dry bulk markets” concluded the Piraeus-based shipbroker and analyst.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 17 May 11
DRY BULK MARKET ENTERS WEEK ON WEAK MODE - HELLENIC SHIPPING
In yet another sign of softening freight rates for dry bulk carriers and oversupply issues, the dry bulk market entered this week on a downward path ...
Monday, 16 May 11
INDO TAMBANG 1Q SALES REVENUE UP - INSIDER STORIES
Thai Banpu Plc last week reported a 7.83% increase in coal sales revenue from its Indonesian operating unit via PT Indo Tambangraya Megah Tbk (ITMG) ...
Sunday, 15 May 11
THE FREIGHT MARKET REMAINED SOFT - VISTAAR
COALspot.com - "The freight market overall remained soft", said Capt. Reddy, Director of Vistaar Shipping Singapore. He further added, &qu ...
Saturday, 14 May 11
WELSPUN TO ACQUIRE AN INDONESIAN COAL MINE - MEDIA
The India based Welspun Power and Steel Ltd is planning to acquire 456,000 shares in PT Batubara Energy Indonesia, representing 75% interest, accord ...
Saturday, 14 May 11
DRY BULK MARKET ON A DOWNFALL ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what is now pretty clear will be yet another challenging year for dry bulk ship owners, the Baltic Dry Index returned to its usual pattern of dec ...
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- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
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