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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, 15 October 11
BENGAL COAL IMPORT TEST - THE TELEGRAPH
The Telegraph reported that, the power position in Bengal improved today but alarm bells are ringing over imported coal stocks that are running out ...
Friday, 14 October 11
CAPE DERIVATIVES MARKET HAS NOT REFLECTED OWNERS EXPECTATIONS' - FEARNBULK
Handy
The Atlantic market continued its upward trend, with fresh cargo entering the market. Skaw Passero to US Gulf climbed US$ 1500 from la ...
Friday, 14 October 11
ADARO BUYS SERVO MEDA FOR RP200 BIO - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk (ADRO) announced that its subsidiary PT Alam Tri Abadi (ATI), acquired 35% stake in PT Serv ...
Thursday, 13 October 11
DRY BULK MARKETS RALLY CONTINUES, BUT ANALYSTS WARN IT WILL BE SHORTLIVED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market continued its push forward yesterday, for yet another session, as the BDI (Baltic Dry Index), the industry’s benchmark edg ...
Wednesday, 12 October 11
INDONESIAS COAL RUSH - JOSEPH KIRSCHKE
COALspot.com - Last winter, the Chinese government mobilized thousands of soldiers and reservists of the People’s Liberation Army to the port ...
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- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Australian Coal Association
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- The Treasury - Australian Government
- MS Steel International - UAE
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
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