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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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Friday, 04 February 11
PERTAMINA DENIES KAREN AGUSTIAWAN RESIGNS FROM PERTAMINA
COALspot.com - The President Director of PT Pertamina, Karen Agustiawan reportedly will replace Darwin Saleh as Minister of Energy and Mineral Resou ...
Friday, 04 February 11
ADARO ENERGY FY10 COAL SALES UP 6 PERCENT TO 43.84 MILLION
As reported by insider stories, Indonesian coal miners PT Adaro Energy Tbk has produced 42.20 million tons of coal in 2010, a 4 percent increase com ...
Thursday, 03 February 11
MERCATOR LINES TO INVEST RS 200-250 CRORE ON COAL MINE IN INDONESIA - ECONOMIC TIMES
Economic Times reported that, Mercator Lines, the HK Mittal-controlled shipping-to-mines major, will invest about 200-250 crore (US$ 43.825 - 54.781 ...
Thursday, 03 February 11
DRY BULK MARKET LOOKS SET TO BOTTOM OUT NIKOS - ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market having lost more than 72% of its value in the last month or so and having retreated to a 2-year low, it seems that the bott ...
Wednesday, 02 February 11
INDONESIA MAY MISS COAL EXPORT TARGET IN 2011
COALspot.com - Indonesian Trade ministry has instructed independent surveyors temporarily not to issue pre-shipment survey report (LS) to the compan ...
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- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- ASAPP Information Group - India
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- White Energy Company Limited
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
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