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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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Monday, 07 November 11
CHINA'S COAL IMPORTS STEAM AHEAD
Chinese seaborne coal imports have grown greatly in recent years, up from 39.2mt in 2008 to 167.7mt in 2010, with the result that China became a net ...
Saturday, 05 November 11
DEMAND SLUMP THREATENS MORE PAIN FOR BULK VESSELS - VISTAAR
COALspot.com - The market continued to fall with BDI dropping below 2,000 points by around 10 pct and closing at 1817 points. The cape index also co ...
Saturday, 05 November 11
BERAU STARTS TO EXPLORE BINUNGAN SITE - INSIDER STORIES
Insider Stories reported that, coal miner PT Berau Coal, a 90% owned subsidiary of PT Berau Coal Energy Tbk (BRAU), is busy to hold exploration in B ...
Friday, 04 November 11
INDIAN IRON ORE MARKET REMAINS DEAD - FEARNLEYS
Handy
The Atlantic market kept its strong position from last week. Even with fewer fixtures reported. Fronthauls still around 25k, wit ...
Thursday, 03 November 11
DRY BULK MARKET OFFICIALLY IN THE RED ON LOWER CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept falling yesterday, on lower iron ore demand, which has caused the industry’s benchmark, the BDI (Baltic Dry Index) to ...
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- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Planning Commission, India
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
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