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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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Tuesday, 13 December 11
CAPESIZES AND PANAMAXES LEAD DRY BULK MARKET HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched closer to the 2,000 mark on Monday, with Panamaxes rebounding firmly and leading the gains. As a result, the industry&rsq ...
Monday, 12 December 11
DRY BULK MARKET LOOKING FOR BALANCE AS WE ENTER 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
During the past few months, freight rates for dry bulk carriers, especially Capesizes have increased significantly, providing ship owners with a muc ...
Sunday, 11 December 11
THE PANAMAX INDEX ENDED ON POSITIVE DIRECTION - VISTAAR
COALspot.com - The BDI and Cape index continued the upward trend this week also with BDI up by 3.00 pct closing at 1,922 points and Cape index up by ...
Saturday, 10 December 11
MAHAKAM RIVER RESUMES COAL TRANSPORTATION
COALspot.com - East Kalimantan local government has resumed limited coal barging through Mahakam River after two weeks of suspension following the c ...
Friday, 09 December 11
DRY BULK MARKET REBOUNDS ON HEALTHIER DEMAND OUTLOOK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market edged forward yesterday, at the highest rate of the past couple of weeks, as a result of stonger iron ore demand, backed by lowe ...
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- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Planning Commission, India
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- The University of Queensland
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
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