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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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- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- White Energy Company Limited
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
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