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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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Thursday, 27 October 11
CAPESIZE REACHING NEW HIGHS - FEARNLEYS
Handy
Pacific market has mixed sentiments with tonnages fixed at firm levels and some tonnages in feast failing on subs.For indo-india, large eco ...
Thursday, 27 October 11
DRY BULK MARKET EDGES DOWN AS CHINAS IRON ORE DEMAND LOSES GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A plunge in Chinese iron ore demand, as a result of high steel inventories and a bleak outlook regarding steel prices, has prompted the dry bulk mar ...
Thursday, 27 October 11
BUKIT ASAM 3Q PROFIT SURGES 66.91%
Insider Stories reported that, the state-controlled coal miner PT Bukit Asam Tbk (PTBA) experienced a 66.91% increase in its net profit during a per ...
Wednesday, 26 October 11
MOODYS SEES MORE GROWTH FOR INDONESIAN COAL MINERS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal mining industry looks set to grow despite an uncertain global economic outlook, according to ...
Wednesday, 26 October 11
PWCS GLOBAL SHIPPING BENCHMARKING ANALYSIS: RECOVERY IN 2010 BUT GREAT UNCERTAINLY FOR 2011
The recovery of global trade in 2010 to the same levels as 2008 led to an improvement in the overall performance of shipping companies in 2010 compa ...
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- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Economic Council, Georgia
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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