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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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Saturday, 12 November 11
DRY BULK MARKET REGAINS SOME OF THE LOST GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market managed to edge forward yesterday, putting an end and halting the losses accumulated over the course of the past weeks, which ha ...
Friday, 11 November 11
PETROCOM ENERGY PLANS $40M TO BUILD COAL PLANT IN CILEGON - JP
The Jakarta Post reported that, Hong Kong-based Petrocom Energy Ltd has unveiled plans to invest up to US$40 million on a proposed coal-blending fac ...
Friday, 11 November 11
GOVT WAITS LEGAL DECISION ON BUKIT ASAM, ADARO DISPUTE - JP
The Jakarta Post reported that, The government says that it will not interfere in the settlement process of the dispute between state coal miner PT ...
Thursday, 10 November 11
INDONESIAN REFERENCE COAL PRICE FELL AGAIN
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the November 2011 Indonesian Coal Reference Price for thermal coal at U ...
Tuesday, 08 November 11
COAL MINER ABM INVESTAMA PLANS $290M PUBLIC OFFERING - JG
The Jakarta Globe reported that, ABM Investama, an Indonesian coal miner controlled by the Hamami family, plans to raise as much as Rp 2.6 trillion ...
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- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
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