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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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Sunday, 25 December 11
THERMAL COAL PRICES GAINED UP TO 4.32 PERCENT
COALspot.com - globalCOAL index gained 4.32 percent to US$106.36 per ton in RBCT, benchmark for South Asia and West Europe markets, for the week end ...
Saturday, 24 December 11
CHINAS LEVEL OF GROWTH TO DETERMINE COURSE OF DRY BULK MARKET IN 2012 SAYS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest report, shipbroker Intermodal attempted to find a silver lining in the tough year that was 2011, as well as what one could expect from ...
Friday, 23 December 11
SPOT PACIFIC CAPESIZE VESSELS HAVE COMMANDED HIGH PREMIUMS - FEARNLEYS
Handy
Rates in the Atlantic kept stable from last week, with a touch of negativity closer to the end. Less spot cargoes seen, and owners are ...
Friday, 23 December 11
CONTENTIOUS ISSUES IN CONTRACT RENEGOTIATION - THE JAKARTA POST
The government has been renegotiating mining contracts, especially those 30-40 years old, with almost all mining companies, including PT Freeport In ...
Friday, 23 December 11
LANCO JOINS HANDS WITH BUKIT ASAM FOR INDONESIAN POWER PROJECT
COALspot.com - PT Tambang Batubara Bukit Asam, Indonesia's state owned coal miner and Indian based Lanco Infratech Ltd plans to build steam power p ...
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- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
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