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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, 06 October 11
SOUTH EAST ASIAS AGGRESSIVE POWER DEMAND GROWTH WILL REQUIRE INVESTMENT OF US$125 BN BY 2020 - WOOD MACKENZIE
COALspot.com - Wood Mackenzie says that South East Asia’s demand growth for new power generation is so aggressive that new power generation in ...
Thursday, 06 October 11
CHINESE DEMAND FOR COAL IMPORTS TO MODERATE IN 2012 - MISWIN MAHESH
COALspot.com - We expect Chinese demand growth for imported steam coal to moderate over the next year. Steam coal imports into China will modera ...
Wednesday, 05 October 11
MINISTRY STICKING TO RAW COMMODITY EXPORT BAN DESPITE INDUSTRY FEARS - JG
The Jakarta Globe, the one of the leading English news paper in Indonesia, reported that, the details of a controversial new regulation that would b ...
Wednesday, 05 October 11
ATLANTIC AND PACIFIC BASINS BECAME TIGHTER FOR PANAMAX LAST WEEK - BRS
A slump for both the Capes and Panamaxes sent the BDI down 1% this week, falling to 1,899 points.
The Capes saw the greatest movement, sliding - ...
Wednesday, 05 October 11
WITH CHINA ON HOLIDAY, DRY BULK MARKET REMAINS STAGNANT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has remained to healthy levels after last month’s rally, but with China going on holiday this week, things are looking sta ...
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- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
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