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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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- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Xindia Steels Limited - India
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
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