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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, 17 December 10
NALCO SHORTLISTS COAL FIRMS FOR INDONESIA PROJECT - BUSINESS-STANDARD
Business-Standard reported that, State-owned NALCO today said it has shortlisted two firms for supply of coal for its Rs 18,000-crore (US$ 3,953,003 ...
Thursday, 16 December 10
LANCO BAGS AUSTRALIAN COAL MINER GRIFFITH - DNA
As part of its strategy to secure coal supplies for meeting its needs in expanding power generation capacities, infrastructure major Lanco Infratech ...
Thursday, 16 December 10
COAL INDIA IN TALKS WITH INDONESIAN CO TO BUY ITS COAL MINES - APN NEWS
APN News reported that, World’s largest coal producer Coal India is in talks with Indonesia’s Sinar Mas Group for acquiring coal mines i ...
Wednesday, 15 December 10
GOVT SETS NEW MINIMUM LEVEL FOR DOMESTIC MARKET SALES - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal producers are required to sell at least 24.17 percent of their production to the domestic market nex ...
Wednesday, 15 December 10
CAPESIZE RATES ARE NOW AT THEIR LOWEST LEVEL SINCE AUGUST
It was a repeat performance for the market this week, with another increase in earnings for the small sizes but a sharp drop for the Capes. Overall ...
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- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- PTC India Limited - India
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- White Energy Company Limited
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
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