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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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Wednesday, 02 November 11
MMTC TO BUY 3.73 MILLION TONS OF COAL FOR 2011- 2013
COALspot.com - India’s state-owned coal and mineral trader MMTC looking for 3.73 million tons of power plant coal for the period 2011 - 2012/ ...
Wednesday, 02 November 11
PANAMAX MARKET BECAME QUIETER AFTER THE RECENT RECOVERY - BRS
There were substantial losses across the board this week: the BDI lost 6.3% to end at 2,018 and the BCI 8.2% to end 3,274. In the smaller sizes the ...
Tuesday, 01 November 11
BORNEO LUMBUNG BUYS 23.8% INTEREST IN BUMI
COALspot.com - PT. Borneo Lumbung Energi (BORN), an Indonesian coking coal producer announces that it has signed a sale and purchase agreement, cond ...
Tuesday, 01 November 11
BAKRIE FORMS STRATEGIC PARTNERSHIP WITH BORNEO - REDUCING DEBT BY USD 1 BILLION
Press Release - Enhancing the standing of “Indonesia Inc.” at the London Stock Exchange PT Bakrie & Brothers Tbk (“BNBR” ...
Tuesday, 01 November 11
ATLAS RESOURCES SETS IPO AT RP1,500 - INSIDER STORIES
Insider Stories reported that, coal miner PT Atlas Resources Tbk has set its initial public offering (IPO) at Rp1,500 (approximately US$ 0.169) per ...
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- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
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