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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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Sunday, 25 December 11
THERMAL COAL PRICES GAINED UP TO 4.32 PERCENT
COALspot.com - globalCOAL index gained 4.32 percent to US$106.36 per ton in RBCT, benchmark for South Asia and West Europe markets, for the week end ...
Saturday, 24 December 11
CHINAS LEVEL OF GROWTH TO DETERMINE COURSE OF DRY BULK MARKET IN 2012 SAYS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest report, shipbroker Intermodal attempted to find a silver lining in the tough year that was 2011, as well as what one could expect from ...
Friday, 23 December 11
SPOT PACIFIC CAPESIZE VESSELS HAVE COMMANDED HIGH PREMIUMS - FEARNLEYS
Handy
Rates in the Atlantic kept stable from last week, with a touch of negativity closer to the end. Less spot cargoes seen, and owners are ...
Friday, 23 December 11
CONTENTIOUS ISSUES IN CONTRACT RENEGOTIATION - THE JAKARTA POST
The government has been renegotiating mining contracts, especially those 30-40 years old, with almost all mining companies, including PT Freeport In ...
Friday, 23 December 11
LANCO JOINS HANDS WITH BUKIT ASAM FOR INDONESIAN POWER PROJECT
COALspot.com - PT Tambang Batubara Bukit Asam, Indonesia's state owned coal miner and Indian based Lanco Infratech Ltd plans to build steam power p ...
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- CNBM International Corporation - China
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- The University of Queensland
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Marubeni Corporation - India
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