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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, 19 January 12
SOUTHGOBI RESOURCES SELLS MORE THAN FOUR MILLION TONNES OF COAL IN 2011, 58% MORE THAN 2010
COALspot.com - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) has successfully complets year 2011 on guidance in terms of coal sales and production.
...
Thursday, 19 January 12
14TH VOGP MEETING IN HO CHI MINH CITY HANDS OUT LATEST UPDATES AND DEVELOPMENTS IN VIETNAM'S ENERGY INDUSTRY
Press Release: At upcoming 14th Vietnam Oil Gas Power on 27-28 Feb in Ho Chi Minh City the industry’s most influential names including Petrovi ...
Thursday, 19 January 12
DELTA DUNIA SEALS US$820 MIO CONTRACT INSIDER STORIES
Insider Stories reported that, PT Delta Dunia Makmur Tbk (DOID) has announced that its primary operating subsidiary, PT Bukit Makmur Mandiri Utama ( ...
Wednesday, 18 January 12
WARM WINTER ACROSS EUROPE HAS IMPACTED NEGATIVELY COAL DEMAND - BRS
With the Chinese New Year just a week away, all markets are slowing down. The drop in freight rates for all sizes has been significant over the past ...
Wednesday, 18 January 12
DRY BULK MARKET'S DRAMA CONTINUES IN START OF NEW WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A flurry of newbuilding deliveries, coupled with a slow start to the new year, a typical trend for the dry bulk market, has led the industry's benc ...
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- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- The University of Queensland
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
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