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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, 08 December 11
INDIA MAY SEE 41% ANNUAL GROWTH OF ITS COAL DEMAND DURING THE NEXT 5 YEARS - ICAP SHIPPING
India’s Ministry of Coal expects that India’s coal demand may face an annual 41% rise during the next 5 years, while its coal deficit is ...
Thursday, 08 December 11
HAREDA KRIDA GETS CONTRACT FROM BAYAN - INSIDER STORIES
Insider Stories reported that, coal miner PT Bayan Resources Tbk (BYAN), through its subsidiary dubbed PT Gunungbayan Pratamacoal (GPB), has signed ...
Thursday, 08 December 11
CAPESIZES LIFT DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize vessels yesterday helped lift the dry bulk market which had been falling since the start of the week on lower cargo demand. As a result the ...
Wednesday, 07 December 11
ABM INVESTAMA EYES RP6.3 TRIO REVENUE - INSIDER STORIES
Insider Stories reported that, an energy integrated company PT ABM Investama Tbk is eyeing a 1.5 folds increase in revenue this year from Rp4. ...
Monday, 05 December 11
THE DECEMBER HBA FELL 11% FROM ITS PEAK AT US$127.05 PER TON IN FEBRUARY 2011
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the December 2011 coal reference price at US$ 112.67 per ton US$ 3.98 ...
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- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Minerals Council of Australia
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
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