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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, 26 October 11
INDIAN MARKET WAS REMAINED TIGHT THE WHOLE LAST WEEK - BRS
The market once more seems to be at a crossroads. The indices last week remained fairly stable (except for the Panamax sector), ending the week as f ...
Tuesday, 25 October 11
DRY BULK MARKET STEADY, ANALYSTS LOOKING FOR ADDED PRESSURE ON THE MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was unchanged on Monday, with the industry’s benchmark, the BDI (Baltic Dry Index) ending the session at 2,153 points, exa ...
Monday, 24 October 11
NEW HEAD OF INDONESIA'S MINING MINISTRY GETS RAKED OVER THE COALS - JOSEPH KIRSCHKE
COALspot.com - Following Indonesia’s presidential cabinet shakeup last week, many are questioning the qualifications of Energy and Mineral Res ...
Monday, 24 October 11
CHINA QINHUANGDAO COAL PRICE RISES TO HIGHEST IN THREE YEARS - BUSINESSWEEK
Business week reported that, China’s power-station coal price rose to the highest level in three years as power stations and central heating p ...
Monday, 24 October 11
CAPESIZE RENTAL RATES RISE FOR THIRD DAY AS MORE SHIPS HIRED - HELLENIC SHIPPING
Rates to hire capesize vessels advanced for a third day on signs of increased demand to transport iron ore, used to make steel.Daily rates for the s ...
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- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Wilmar Investment Holdings
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
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