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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, 04 April 12
CHURCHILL MINING TO ACCELERATE INTERNATIONAL ARBITRATION AGAINST INDONESIA
Churchill Mining plc (AIM: CHL), advises that notations on the Indonesian Supreme Court's register of cases shows the Supreme Court has rejected th ...
Monday, 02 April 12
BANGLADESH EYEING INDONESIA FOR COAL
COALspot.com - The high level executives of Center for Environmental and Geographic Information Services (CEGIS) of Bangladesh is visiting Ind ...
Monday, 02 April 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first quarter of the New Year ended with the BDI standing 42% above from the 26 years’ bottom low of 662 points on February 1st, and a pos ...
Saturday, 31 March 12
THE BDI CONTINUED TO MOVE UPWARD - VISTAAR
COALspot.com - The BDI continued to move upward and rose by 2.86 pct closing at 934 points.
The cape index was up by 3.14 pct closing at 1,412 po ...
Saturday, 31 March 12
SRI LANKA IMPORTS 152,555 MT OF INDONESIAN COAL IN FEBRUARY
COALspot.com: Indonesia, the world largest coal exporter, shipped 27.126* million tons of coal in February 2012, compared to 28.21* million to ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Planning Commission, India
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
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