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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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Tuesday, 24 January 12
BUKIT ASAM FY11 NET PROFIT SURGES 50% - INSIDER STORIES
Insider Stories reported that, the state-controlled PT Bukit Asam Tbk (PTBA) estimated to book Rp3 trillion (approximately US$ 335,570,469) net prof ...
Sunday, 22 January 12
FREIGHT MARKET DROPPED TO THE LOWEST LEVEL SINCE 2008
COALspot.com - "The markets continued to soften almost reaching 2008 levels breaking the 1,000 point mark", said Capt. Reddy of Vistaar Sh ...
Saturday, 21 January 12
ASIAS PREMIER COMPREHENSIVE OPEN CUT MINING CONFERENCE SCHEDULED FOR FEBRUARY 2012
As the only such conference in the region for miners and service providers, IBC Asia’s Open Cut Mine Planning & Operational Excellence con ...
Saturday, 21 January 12
COAL MARKETS CELEBRATES A DECADE OF BRINGING BUYERS & SELLERS TOGETHER
In 2012, IBC Asia’s premier Coal Markets conference series – Asia’s only globally focused coal import, export and supply chain eve ...
Saturday, 21 January 12
SAMIN TAN COMPLETES BUMI PLC TAKEOVER - INSIDER STORIES
Insider Stories reported that, Indonesian coking coal miner PT Borneo Lumbung Energi & Metal Tbk (BORN), that is controlled by stellar businessm ...
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- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Economic Council, Georgia
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
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