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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, 19 December 11
PLN WILL NO LONGER BUY COAL FROM TRADERS
COALspot.com - Indonesia's state electricity company PT Perusahaan Listrik Negara will no longer allow traders to become their suppliers, said, its ...
Saturday, 17 December 11
THE FREIGHT MARKET SEEMS TO HAVE ALMOST BOTTOMED OUT AND MAY REMAIN STEADY AT THESE LEVELS CAPT REDDY
COALspot.com - The BDI and Cape index closed lower this week with BDI closing at 1,888 points (down by 1.76 pct) and Cape index at 3,572 points (dow ...
Friday, 16 December 11
DRY BULK MARKET LOSES TRACK ON CAPESIZE LOSSES, SHIP FINANCING REMAINS TROUBLESOME - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market didn’t manage to sustain earlier gains, losing track yesterday, on reduced Capesize demand and persisting troubles in smal ...
Thursday, 15 December 11
BERAU SEES INDIA AS POTENTIAL MARKET FOR LOW-CALORIE COAL - THE JAKARTA POST
The Jakarta Post reported that, Publicly listed coal mining company PT Berau Coal Energy (BRAU), the fifth largest coal producer in Indonesia, sees ...
Thursday, 15 December 11
PANAMAX HARDLY AFFECTED BY THE RECENT FIRMER TENDENCY FOR THE BIG SISTERS - FEARNBULK
Handy
The rates are more or less the same as last week. Continent/US Gulf fixing at tick below USD 10k and Gulf/Continent levels at USD 25k. Trips ...
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- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- The University of Queensland
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- ASAPP Information Group - India
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
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