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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, 15 February 12
HBA FOR FEB 2012, CLIMBS 2.09 PERCENT AND REACHED US$ 111.58 PER TON
COALspot.com - The Indonesian coal reference price for February climbs 2.09 percent to US$111.58 per ton after losing past three months. ...
Monday, 13 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The current sentiment in the dry market resembles memories from the end of 2008, when the Baltic Dry Index closed at the level of 663 points on Dece ...
Sunday, 12 February 12
INDONESIA HAS ISSUED A REGULATION TO BAN THE EXPORT OF UNPROCESSED MINERALS AND METALS BY 2014
COALspot.com - The Indonesian government has finally issued a ministerial decree (7 Year 2012 dated 6 February 2012) to ban the export of unpro ...
Sunday, 12 February 12
THE BALTIC DRY INDEX CLIMBS 10.51%
COALspot.com - "The markets touched record lows not seen since mid 80’s. However there was some good news with signs of market recovery a ...
Saturday, 11 February 12
A SNAPSHOT ON THE ECONOMIC AND SHIPPING ENVIRONMENT - GOLDEN DESTINY
The week was highlighted with intense worries in the eurozone for Greece to secure its second bailout of $130billion by applying a ...
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- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
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