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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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Friday, 27 January 12
DEMOLITION ACTIVITY NEEDS TO INCREASE SIGNIFICANTLY THIS YEAR AS WELL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The oversupply of vessels in most shipping sectors is so intense that it’s become clear to ship owners that unless they scrap as many of their ...
Thursday, 26 January 12
ABM INVESTAMA SEALS US$100 MIO CONTRACT - INSIDER STORIES
Insider Stories reported that, PT Reswara Minergi Hartama, a subsidary of PT ABM Investama Tbk (ABMM), has sealed a 2 million tons of coal export co ...
Thursday, 26 January 12
DRY BULK MARKETS DOWNFALL KNOWS NO LIMITS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s demise seems to have no visible end, as China’s Lunar Year Holidays continue this week, thus leaving demand with n ...
Wednesday, 25 January 12
CLEAN AND CLEAR MINING PERMITS TO BE COMPLETED END OF 2012 - BISNIS.COM
Bisnis.com reported that, the government plans to announce 700 mining permits with "clean and clear" status without overlapping on other p ...
Tuesday, 24 January 12
ANOTHER SEVERE DROP IN THE CAPESIZE - BRS
The lunar year celebrations and the high number of new building deliveries (more than 35 Capes so far in January as owners push 2011 deliveries into ...
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- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Australian Coal Association
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
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