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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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Monday, 27 December 10
HUNT FOR OVERSEAS COAL ASSETS TO INTENSIFY - FINANCIAL EXPRESS
Financial Express reported that, With the Indian economy back on the track after the slowdown, merger and acquisition (M&A) activities in the re ...
Monday, 27 December 10
RIO TINTO EYES AUSTRALIAN COAL MINER - RTE NEWS
Global resources giant Rio Tinto has made a $3.9 billion bid for Australian coal miner Riversdale.
RTE News reported that, Global resources giant ...
Sunday, 26 December 10
ANGLO SELLS AUSTRALIAN COAL ASSETS - BARCELONA NEWS
Barcelona News reported that, Anglo American has sold off undeveloped Australia coal assets for $577 million.
The global resources giant ha ...
Saturday, 25 December 10
FREIGHT MARKET - LOWEST FIXTURES REPORTED SINCE MID 2009 - CAPT. REDDY
COALspot.com - We wish you a Merry Christmas and a Happy New Year 2011.
The holiday season seems to have severely affected the fr ...
Friday, 24 December 10
CIL SHORTLISTS 21 FIRMS TO IMPORT 250 MT COAL - THE HINDU
The Hindu reported that, Coal India plans to import about 250 million tonnes (mt) over the next 10 years to meet the country's growing requirement. ...
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- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Australian Coal Association
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- ASAPP Information Group - India
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- White Energy Company Limited
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
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