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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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Tuesday, 13 December 11
CAPESIZES AND PANAMAXES LEAD DRY BULK MARKET HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched closer to the 2,000 mark on Monday, with Panamaxes rebounding firmly and leading the gains. As a result, the industry&rsq ...
Monday, 12 December 11
DRY BULK MARKET LOOKING FOR BALANCE AS WE ENTER 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
During the past few months, freight rates for dry bulk carriers, especially Capesizes have increased significantly, providing ship owners with a muc ...
Sunday, 11 December 11
THE PANAMAX INDEX ENDED ON POSITIVE DIRECTION - VISTAAR
COALspot.com - The BDI and Cape index continued the upward trend this week also with BDI up by 3.00 pct closing at 1,922 points and Cape index up by ...
Saturday, 10 December 11
MAHAKAM RIVER RESUMES COAL TRANSPORTATION
COALspot.com - East Kalimantan local government has resumed limited coal barging through Mahakam River after two weeks of suspension following the c ...
Friday, 09 December 11
DRY BULK MARKET REBOUNDS ON HEALTHIER DEMAND OUTLOOK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market edged forward yesterday, at the highest rate of the past couple of weeks, as a result of stonger iron ore demand, backed by lowe ...
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- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- White Energy Company Limited
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
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