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