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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, 12 October 11
CAPESIZE - A SURPRISE JUMP IN RATES - BRS
There was a surge across all sizes last week, resulting in the BDI gaining 101 points to end the week at 2,000 points (+5.3%). The BCI reached 3,218 ...
Wednesday, 12 October 11
CAPESIZE FREIGHT RATES BOUND TO RETREAT FROM 2011 HIGHS ON THE BACK OF TONNAGE OVERSUPPLY SAYS BIMCO
According to Nikos Roussanoglou, Hellenic Shipping, with the BDI (Baltic Dry Index) breaking yet another 2011 high yesterday and ending the se ...
Tuesday, 11 October 11
GLENCORE, SUITOR FOR BUMI PLC? - INSIDER STORIES
Insider Stories reported that, the largest commodities trader in the world, Glencore International Plc, is considering an opportunity to acquire a m ...
Tuesday, 11 October 11
RENUKA COALINDO BUYS JAMBI COAL
PT Renuka Coalindo Tbk, formerly PT Allbond Makmur Usaha Tbk plans to acquire PT Jambi Prima Coal holder of mining concession in Pauh, Sa ...
Monday, 10 October 11
MOZAMBIQUE CHANNEL TO BE THE NEW PIRACY HOTSPOT FOR THIS YEAR SAYS MARITIME SECURITY EXPERT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Mozambique Channel, as well as the entrance to the Persian Gulf, are expected to become some of the new pirate hotspots for piracy, says Richard ...
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- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Planning Commission, India
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Ministry of Mines - Canada
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
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