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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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Monday, 02 January 12
THE PROMISE OF INDIA: A BRIEF INTERRUPTION? - CLARKSONS / HELLENIC SHIPPING
Future growth in Indian seaborne coal imports has sometimes been considered as one of the largest potential upsides in the currently oversupplied dr ...
Sunday, 01 January 12
IS INDIA FOLLOWING INDONESIA TO STANDARDIZE COAL PRICES TO GET MAXIMUM BENEFITS?
COALspot.com - Coal India limited, an Indian state owned and world largest coal producer has introduced gross calorific value (GCV) based pricing me ...
Saturday, 31 December 11
GLOBALCOAL NEWC INDEX SURGED 2.32 PERCENT
COALspot.com - globalCOAL index in Newcastle Port, benchmark for Asian market, ended substantially higher, surged 2.32 percent to US$115.47 per ...
Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE
The Jakarta Globe, one of the leading english news paper in Indonesia reported yesterday, shareholders of Indonesian coking coal miner Borneo Lumbun ...
Friday, 30 December 11
CENTRAL GOVERNMENT SHOULD ISSUE PERMITS - THE JAKARTA POST
The Jakarta Post reported that, business associations from both the palm oil and mining sectors have suggested that the central government should re ...
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- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- PTC India Limited - India
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Australian Coal Association
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Planning Commission, India
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
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