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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, 22 March 12
ECI-CHINA HANDY RATES ARE AROUND US$ 8000 - FEARNLEYS
Handy
Another positive trend was seen last week with more cargoes entering the market. Skaw-Passero/US Gulf climbed slowly up to USD 3700, while US ...
Thursday, 22 March 12
DRY BULK MARKET KEEPS SURGING, CAPESIZES FALLING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what seems to be an establishing pattern, the dry bulk market has kept its upward momentum, edging closer to the 900 point-mark, but the larger s ...
Wednesday, 21 March 12
BUMA HAS PRODUCED 2.3 MILLION TONS OF COAL IN FEBRUARY 2012
COALspot.com - PT. Delta Dunia Makmur's overburden removal in February 2012 has reached totaled 23.8 million bcm (+2.4% YoY) while coal production ...
Tuesday, 20 March 12
SMALLER DRY BULK VESSELS STILL LEADING DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been growing during the past couple of weeks, but contrary to the usual practice, it’s not the larger Capesizes which ...
Monday, 19 March 12
WEEKLY DRY MARKET OVERVIEW: SMALLER VESSELS LEAD RATES HIGHER - MARIA BERTZELETOU, HELLENIC SHIPPING
The upward trend of the Baltic Dry Index persists strong from the end of February, spurred from the supramax market that offsets the weakness in the ...
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- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Australian Coal Association
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Planning Commission, India
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
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