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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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Thursday, 08 December 11
INDIA MAY SEE 41% ANNUAL GROWTH OF ITS COAL DEMAND DURING THE NEXT 5 YEARS - ICAP SHIPPING
India’s Ministry of Coal expects that India’s coal demand may face an annual 41% rise during the next 5 years, while its coal deficit is ...
Thursday, 08 December 11
HAREDA KRIDA GETS CONTRACT FROM BAYAN - INSIDER STORIES
Insider Stories reported that, coal miner PT Bayan Resources Tbk (BYAN), through its subsidiary dubbed PT Gunungbayan Pratamacoal (GPB), has signed ...
Thursday, 08 December 11
CAPESIZES LIFT DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize vessels yesterday helped lift the dry bulk market which had been falling since the start of the week on lower cargo demand. As a result the ...
Wednesday, 07 December 11
ABM INVESTAMA EYES RP6.3 TRIO REVENUE - INSIDER STORIES
Insider Stories reported that, an energy integrated company PT ABM Investama Tbk is eyeing a 1.5 folds increase in revenue this year from Rp4. ...
Monday, 05 December 11
THE DECEMBER HBA FELL 11% FROM ITS PEAK AT US$127.05 PER TON IN FEBRUARY 2011
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the December 2011 coal reference price at US$ 112.67 per ton US$ 3.98 ...
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- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Deloitte Consulting - India
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
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