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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, 29 December 11
NEW VESSELS DELIVERED ARE FLOODING THE OCEANS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As expected 2011 has been the year that newbuilding deliveries peaked and kept "flooding" the market, thus supressing freight rates and er ...
Tuesday, 27 December 11
MINERS MAKE CASE FOR RESUMING CONTRACT NEGOTIATIONS - THE JAKARTA POST
The Jakarta Post reported that, problems with the renegotiation of mining contracts in the country are far from over, as agreements on several cruci ...
Tuesday, 27 December 11
COAL SHIPMENT OF TIANJIN PORT REACHED 6.72 MLN TONNES IN NOVEMBER - STEEL HOME / HELLENIC SHIPPING
Tianjin port shipped 6.72 million tonnes of coal in November, decreasing 600,000 tonnes versus 7.32 million tonnes in October, while up 21.09% or 1. ...
Tuesday, 27 December 11
NEW CLAUSE PUBLISHED FOR SLOW STEAMING - BIMCO
Many owners and operators faced with high bunker prices are considering implementing slow steaming regimes to save fuel and to assist with capacity ...
Monday, 26 December 11
NEW EXPORT TAX PLAN GREETED WITH PRAISE AND CRITICISM - THE JAKARTA POST
The Jakarta Post, one of the Indonesia's leading english news paper reported that, both praise and criticism showered the government’s plan t ...
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- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- The University of Queensland
- Marubeni Corporation - India
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
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