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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, 18 April 12
INDONESIA TO INTRODUCE EXPORT DUTY ON MINERAL ORES BY 6 MAY 2012
The Indonesian government is scheduled to issue regulation on export duty for minerals before May 6, 2012.
According to Bisnis Indonesia, as quot ...
Sunday, 15 April 12
THE SPOT FIXTURE RATES FOR SUPRAMAX IN SE ASIA SAW SOME SOFTENING OF CHARTER RATES - VISTAAR
COALspot.com - The market seem to be holding and except for Supramax and handy size index all other index was up with BDI up by 4.74 pct closing at ...
Friday, 13 April 12
MINERS OPPOSE GOVTS EXPORT TAX PLAN - THE JAKARTA POST
The Jakarta Post reported that, Indonesian mining companies have strongly protested the government’s plan to impose a 25 percent export tax on ...
Friday, 13 April 12
S&P CAUTIONS AGAINST NEW INDONESIAN MINING REGULATIONS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Investors may have expressed concerns about looming new mining regulations, but ratings agency Standard & Poor& ...
Thursday, 12 April 12
FIRST QUARTER OF 2012 SAW AN ADDITIONAL 24.2 MILLION DWT OF DRY BULK CARRIERS ENTERING THE FLEET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The inflow of newbuilt dry bulk vessels was larger than expected in the first quarter of 2012. As much as 24.2 million DWT were added to the fleet. ...
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- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Parliament of New Zealand
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
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