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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, 22 November 11
ABM INVESTAMA SETS IPO AT RP 3,750
Insider Stories reported that, Integrated energy company PT ABM Investama Tbk has determined the IPO price at Rp3,750 (approximately US$ 0.415) per ...
Tuesday, 22 November 11
A SURPRISINGLY STRONG WEEK FOR THE CAPES - BRS
Positive gains for most of the segments this week, the exception being the Handysizes. Overall the BDI ended the week at 1,895 points (+3.3% week-on ...
Tuesday, 22 November 11
APPETITE FOR DRY BULK VESSELS SLOWS DOWN AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was down at the beginning of the week, as demand for Capesize vessels was particularly low. The industry’s benchmark, the ...
Monday, 21 November 11
CAPESIZES DRIVE MARKET LOWER, ANALYSTS DIVIDED ON DRY BULK OUTLOOK IN THE LONG RUN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market ended the week on a sour note, with the industry’s benchmark heading downwards to 1,895 points, which represented a slight ...
Sunday, 20 November 11
THE FREIGHT MARKETS EXPECTED TO BE FIRM NEXT WEEK - VISTAAR
COALspot.com - The market continued to move up with all sectors gaining except for handy size.
The BDI was up by 3.26 pct and closed at 1895 poin ...
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- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- The University of Queensland
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
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