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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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Thursday, 05 May 11
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark, the Baltic Dry Index (BDI) managed to edge higher yesterday, rising by 1.81% to 1,292 points, in the first po ...
Thursday, 05 May 11
AKR NAMES KARUNIA AS COAL CONTRACTOR
Insider Stories reported that, PT AKR Corporindo Tbk has appointed PT Karunia Bumi Khatulistiwa as the contractor of coal mining concession in North ...
Tuesday, 03 May 11
DRY BULK MARKET OUTLOOK SEEN WEAK, AS SHIP OWNERS PILE UP MORE SHIPS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the Baltic Dry Index not trading yesterday, it’s worth taking a step back to see the current freight levels. First of all, capesizes and ...
Tuesday, 03 May 11
THE HANDY MARKET CONTINUED TO SLIDE DOWN - BRS
There were marginal increases in rates for the larger sizes this week, with the Cape index remaining stable and the Panamax index logging a 5% incre ...
Monday, 02 May 11
ADARO POSTS 11.7 PERCENT INCREASE IN REVENUES ON HIGHER PRICES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s second-largest coal producer, PT Adaro Energy Tbk, announced an 11.7 percent increase in net reven ...
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- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- The University of Queensland
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- PTC India Limited - India
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
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