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