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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, 22 November 11
ABM INVESTAMA SETS IPO AT RP 3,750
Insider Stories reported that, Integrated energy company PT ABM Investama Tbk has determined the IPO price at Rp3,750 (approximately US$ 0.415) per ...
Tuesday, 22 November 11
A SURPRISINGLY STRONG WEEK FOR THE CAPES - BRS
Positive gains for most of the segments this week, the exception being the Handysizes. Overall the BDI ended the week at 1,895 points (+3.3% week-on ...
Tuesday, 22 November 11
APPETITE FOR DRY BULK VESSELS SLOWS DOWN AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was down at the beginning of the week, as demand for Capesize vessels was particularly low. The industry’s benchmark, the ...
Monday, 21 November 11
CAPESIZES DRIVE MARKET LOWER, ANALYSTS DIVIDED ON DRY BULK OUTLOOK IN THE LONG RUN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market ended the week on a sour note, with the industry’s benchmark heading downwards to 1,895 points, which represented a slight ...
Sunday, 20 November 11
THE FREIGHT MARKETS EXPECTED TO BE FIRM NEXT WEEK - VISTAAR
COALspot.com - The market continued to move up with all sectors gaining except for handy size.
The BDI was up by 3.26 pct and closed at 1895 poin ...
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- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Australian Coal Association
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
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