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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, 15 March 12
RESOURCE ALAM FY11 PROFIT UP 171% - INSIDER STORIES
Insider Stories reported that, coal mining company PT Resource Alam Indonesia Tbk (KKGI) reported a 171.16% jump in net profit last year on the back ...
Wednesday, 14 March 12
GLOBAL THERMAL TRADE FLOW CHANGES WILL ENSURE SECURITY OF THERMAL COAL SUPPLY, ALBEIT AT A HIGH PRICE - WOOD MACKENZIE
Wood Mackenzie Says Global Thermal Trade Flow Changes Will Ensure Security of Thermal Coal Supply, Albeit At a High Price Seaborne thermal demand by ...
Wednesday, 14 March 12
COKAL TAKES ANOTHER STEP IN DEVELOPING INFRASTRUCTURE TO FACILITATE METALLURGICAL COAL PRODUCTION
Global coal group, Cokal Limited (ASX-CKA), has signed Memorandums of Understanding (MoU’s) to develop two river ports and two small scale coa ...
Tuesday, 13 March 12
CLARIFICATION OF GR 24 OF 2012 REQUIRING DIVESTMENT OF FOREIGN OWNERSHIP OVER TIME
ASX Announcement
Global metallurgical coal group, Cokal Limited (ASX-CKA), is responding to the recent announcement of the Indonesian Ministry of ...
Tuesday, 13 March 12
EUROPEAN COAL CONTANGO: FURTHER STEEPNESS REQUIRED TO MAKE LARGE SCALE PHYSICAL TIME SPREAD ARBITRAGE MORE ATTRACTIVE - MISWIN MAHESH, BARCLAYS CAPITAL
COALspot.com - "With the contango between the Y+1 and M+1 ARA delivered contract now averaging above the $14/t level, there is an increasing in ...
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- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Economic Council, Georgia
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- The University of Queensland
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Planning Commission, India
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
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