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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, 05 January 12
DRY BULK MARKET TAKES A PLUNGE OF LOW ACTIVITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected the first days of the new year are characterized by significantly low chartering across the board of the dry bulk market, pus ...
Wednesday, 04 January 12
NEWBUILDING ORDERS PICKED UP IN 2011, BUT 2012 EXPECTED TO BE A DIFFERENT STORY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the BDI (Baltic Dry Index) starting the year on a sour note, losing 114 points and ending yesterday’s session, the first of the new year, ...
Wednesday, 04 January 12
MAHAGENCO TO IMPORT LOW MOISTURE COAL
COALspot.com - Maharashtra State Power Generation Co. Ltd. is the state power generation utility owned by Government of Maharashtra, intends to proc ...
Tuesday, 03 January 12
INDONESIA COAL REFERENCE PRICE FELL AGAIN
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the January 2012 coal reference price at US$ 109.29 per ton or US$ 3.3 ...
Tuesday, 03 January 12
WHICH WAY WILL THE DRY BULK MARKET HEAD ON FIRST WEEK OF THE YEAR? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Dry bulk ship owners will be wondering which way will the BDI (Baltic Dry Index), the industry’s benchmark, will head during the first days of ...
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- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Economic Council, Georgia
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
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