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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, 07 January 11
SRI LANKA NEW PORT TO OFFER SHIP FUEL IN MAY - LBO
LOB reported that, The Sri Lanka Ports Authority (SLPA) plans to start bunkering or ship fuel operations at a new port in southern Hambantota in May ...
Friday, 07 January 11
DRY BULK MARKET ON A FREEFALL, AS THE NEW YEAR EARLY DAYS DONT BRING MANY CHEERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is facing its worst slump in more than two years, falling by 4.75% yesterday to reach 1,544 points, on top of an additional 4.2% ...
Thursday, 06 January 11
OVERSEAS & GENERAL SIGNS AGREEMENT TO EXPAND FOOTPRINT ON COAL LEASE IN INDONESIA - PROACTIVE INVESTORS
Proactive Investors reported that, Overseas & General (ASX: OGL) has entered into a joint operating agreement on the Jambi Coal Lease in Sumatra ...
Thursday, 06 January 11
BANPU EXPECTS ROSY 2011 AS COAL PRICES SKYROCKET - BANGKOK POST
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, expects minimal impact from the production stoppage at its Daning mine in China ...
Thursday, 06 January 11
COKING COAL CONTRACT PRICE MAY RISE 33% ON AUSTRALIAN FLOODS - BLOOMBERG
Bloomberg reported that, Steelmakers in Asia may be forced to pay as much as 33 percent more for hard coking coal after the worst floods in 50 years ...
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- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Planning Commission, India
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
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