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Tuesday, 06 December 11
DRY BULK MARKET ENDS RALLY, STARTS WEEK WITH FALL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 After a series of increases which saw the dry bulk market’s benchmark, the Baltic Dry Index (BDI) increasing close to 1,900 points and rates on some Capesize routes reaching a three-month high, the start of the new week brought this upward trend to a halt. Specifically, the BDI fell by 10 points to 1,856 points, with all major indices in negative territory. The Capesize segment of the market, which led most of the gains last week was lower yesterday to 3,390 points, while Panamaxes were also a bit lower to 1,693 points (Baltic Panamax Index).
In a statement from the Bedford Report, coal exports are recovering from supply disruptions in Australia, coinciding with a seasonal boost in shipments of the fuel and of grains, said Ole G. Stenhagen, an analyst at SEB Enskilda ASA in Oslo. The BDI's dramatic ascent could be short-lived, however. Khalid Hashim, managing director of Thai-listed Precious Shipping, told an industry conference he saw the BDI falling to as low as 1,000 points by year's end due to more ships taking to the seas. Reports from Reuters state that the dry bulk fleet -- responsible for shipping iron ore, coal and other commodities -- was expected to grow 13 percent this year to top a record 600 million deadweight tonnes despite demand rising by just 5 to 8 percent.
Still, fleet growth will outpace demand for commodities shipped in bulk and market sentiment will again turn negative in 2012, JPMorgan Cazenove said in a report at the end of the week, as mentioned in a Bloomberg article. Rates for single-voyage and longer-duration charters across the shipping industry are 60 percent lower than 10-year averages after owners ordered too many vessels before a 2008 collapse in rents, analysts led by London-based Christopher G. Combe said in the report. Deliveries of dry-bulk vessels will peak in 2012 based on outstanding orders for new ships, according to JPMorgan Cazenove, which initiated coverage on five maritime and offshore companies.
Meanwhile, in a separate story from Bloomberg yesterday, quoting Macquarie Capital Securities Inc., the Baltic Dry Index will take until 2014 to exceed an average level of 2,000 points, as iron ore production runs below estimates. “We believe 2012 will be the low point for rates, but that the recovery back to a BDI average of around 2,000 will take until 2014,” the bank said. Top global producer Vale SA’s output of the steelmaking raw material will be 26 percent lower next year than projected by the company in 2007, Macquarie said in a report e-mailed yesterday. That equates to a shortfall of 110 million metric tons, it said.
At the same time, the fleet is set to expand more quickly than demand to ship commodities, the report showed. The dry-bulk fleet’s growth next year will outpace an estimated 8 percent gain in demand to transport commodities by sea, even as scrapping of older vessels surges 48 percent, Macquarie analysts said in the report.
“Macquarie predicted the most pressure on earnings over the next two years for capesizes and panamaxes, the two largest dry- bulk vessel classes. They have the greatest surplus of capacity, the analysts said. The largest and smallest capesize subclasses, so-called very large ore carriers and mini-capes, had the biggest oversupply, Macquarie said, citing a presentation from Ian Sheriff, a representative of Zodiac Maritime Agencies Ltd. The London-based ship operator has a fleet of 34 capesizes and 13 very large ore carriers. Dry-bulk ships with a combined capacity of 37 million deadweight tons will be demolished next year, up from 25 million tons in 2011, the report showed. Vessel deliveries will drop to 70 million tons from 96 million tons this year, Macquarie forecast” said Bloomberg.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 02 November 11
MMTC TO BUY 3.73 MILLION TONS OF COAL FOR 2011- 2013
COALspot.com - India’s state-owned coal and mineral trader MMTC looking for 3.73 million tons of power plant coal for the period 2011 - 2012/ ...
Wednesday, 02 November 11
PANAMAX MARKET BECAME QUIETER AFTER THE RECENT RECOVERY - BRS
There were substantial losses across the board this week: the BDI lost 6.3% to end at 2,018 and the BCI 8.2% to end 3,274. In the smaller sizes the ...
Tuesday, 01 November 11
BORNEO LUMBUNG BUYS 23.8% INTEREST IN BUMI
COALspot.com - PT. Borneo Lumbung Energi (BORN), an Indonesian coking coal producer announces that it has signed a sale and purchase agreement, cond ...
Tuesday, 01 November 11
BAKRIE FORMS STRATEGIC PARTNERSHIP WITH BORNEO - REDUCING DEBT BY USD 1 BILLION
Press Release - Enhancing the standing of “Indonesia Inc.” at the London Stock Exchange PT Bakrie & Brothers Tbk (“BNBR” ...
Tuesday, 01 November 11
ATLAS RESOURCES SETS IPO AT RP1,500 - INSIDER STORIES
Insider Stories reported that, coal miner PT Atlas Resources Tbk has set its initial public offering (IPO) at Rp1,500 (approximately US$ 0.169) per ...
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- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- MS Steel International - UAE
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
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