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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, 20 January 11
DRY BULK MARKETS FALL SEES NO END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Pundits indicating that the dry bulk market’s sentiment remains weak were justified, as the industry’s benchmark, the Baltic Dry Index ( ...
Wednesday, 19 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index ...
Tuesday, 18 January 11
MINISTRY SEEKS COAL FROM INDONESIA - SUNDAY OBSERVER
Sunday Observer reported that, Ministry of Power and Energy is to explore the possibilities of importing quality coal from Indonesia.
Minister Pa ...
Tuesday, 18 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index ...
Sunday, 16 January 11
STANCHART GLOBAL RESEARCH SEES COAL PRICE RISING ON SUPPLY DISRUPTION - BURSA MALAYSIA MARKET NEWS
Bursa Malaysia Market News reported that, Standard Chartered Global Research has upgraded its 2011 forecasts for global thermal coal prices based on ...
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- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Planning Commission, India
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
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