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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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Saturday, 12 November 11
DRY BULK MARKET REGAINS SOME OF THE LOST GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market managed to edge forward yesterday, putting an end and halting the losses accumulated over the course of the past weeks, which ha ...
Friday, 11 November 11
PETROCOM ENERGY PLANS $40M TO BUILD COAL PLANT IN CILEGON - JP
The Jakarta Post reported that, Hong Kong-based Petrocom Energy Ltd has unveiled plans to invest up to US$40 million on a proposed coal-blending fac ...
Friday, 11 November 11
GOVT WAITS LEGAL DECISION ON BUKIT ASAM, ADARO DISPUTE - JP
The Jakarta Post reported that, The government says that it will not interfere in the settlement process of the dispute between state coal miner PT ...
Thursday, 10 November 11
INDONESIAN REFERENCE COAL PRICE FELL AGAIN
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the November 2011 Indonesian Coal Reference Price for thermal coal at U ...
Tuesday, 08 November 11
COAL MINER ABM INVESTAMA PLANS $290M PUBLIC OFFERING - JG
The Jakarta Globe reported that, ABM Investama, an Indonesian coal miner controlled by the Hamami family, plans to raise as much as Rp 2.6 trillion ...
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- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- White Energy Company Limited
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- GMR Energy Limited - India
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
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