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Monday, 05 December 11
DRY BULK RATES LOOKING TO EXTEND GAINS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 Capesize dry bulk carrier owners have had a great week, with rates rising for six straight sessions (including the end of the week before that). As a result daily rates for hiring a Capesize, especially in the Pacific have risen to $27,581, a figure representing an invrease of 32% on the week, standing in a three-month high. Australia is the world’s biggest exporter of iron ore, typically carried on capesizes, and China is the top global consumer of the steelmaking raw material. Miners required more vessels than were available to ship ore from Australian ports, supporting prices worldwide and improving market sentiment, Braemar Seascope said.
In total, average Capesize freight rates climbed to $29,359, the highest level since the end of October, and up 47 percent since the start of the year. 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.
Hope can come in the form of demolition activity, which by the start of November was already 400% higher than in 2010 as whole, said Rodney North, Braemar Seascope Director in Demolition, in a recent interview with Hellenic Shipping News. He said that in total, 23.8 million dwt of dry bulk tonnage has been removed from the market so far in the year. Still, as he mentioned, this level of scrapping activity isn’t enough to help alleviate oversupply problems. “According to our Research Department this year will see a net bulk carrier fleet growth of 10% compared to a 6% demand growth” said Mr. North. Regarding 2012, things aren’t expected to change much according to Braemar, which anticipates a net dry bulk fleet growth of 8%-10%, as against a steady demand increase of 6%.
According to Christina Anagnostara, CFO of Seanergy Maritime Holdings Corp., the record levels of scrapping activity seen this year are going to be a catalyst for alleviating the industry's oversupply problems by balancing supply and demand. “Recently an international broker estimated that if all vessels built before 1985 were scrapped before the end of 2013 it would bring net annual fleet growth to 6.3%, compared to gross growth of roughly 12% and an estimated annual rise in demand for dry bulk transportation of about 5.2%. If this materializes, we should see a gradual stabilization of the demand and supply dynamics going forward” said Miss Anagnostara. For the time being though, most industry sources point to the fact that fundamentally, supply and demand dynamics have not changed that much and so the spike in rates is likely to be transitory. "As a result we expect freight environment to remain soft for the next 18 months" she said, speaking with Hellenic Shipping News Worldwide.
She also added that as things currently stand, "the bulk of new vessel deliveries is going to take place in 2011 and 2012, while from 2013 the pace of expected deliveries is likely to subside considerably. Even as we expect some deliveries to be pushed back in time due to financing and other difficulties, it is unlikely that after 2013 the industry is going to be facing the problem of oversupply as intensely as it does so today. An important assumption to be made here is that orders for new dry bulk vessels are not going to increase significantly, to the extent that they did in the years leading up to 2009 as that may prove detrimental for market fundamentals in the future" she mentioned.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 13 December 11
CAPESIZES AND PANAMAXES LEAD DRY BULK MARKET HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched closer to the 2,000 mark on Monday, with Panamaxes rebounding firmly and leading the gains. As a result, the industry&rsq ...
Monday, 12 December 11
DRY BULK MARKET LOOKING FOR BALANCE AS WE ENTER 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
During the past few months, freight rates for dry bulk carriers, especially Capesizes have increased significantly, providing ship owners with a muc ...
Sunday, 11 December 11
THE PANAMAX INDEX ENDED ON POSITIVE DIRECTION - VISTAAR
COALspot.com - The BDI and Cape index continued the upward trend this week also with BDI up by 3.00 pct closing at 1,922 points and Cape index up by ...
Saturday, 10 December 11
MAHAKAM RIVER RESUMES COAL TRANSPORTATION
COALspot.com - East Kalimantan local government has resumed limited coal barging through Mahakam River after two weeks of suspension following the c ...
Friday, 09 December 11
DRY BULK MARKET REBOUNDS ON HEALTHIER DEMAND OUTLOOK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market edged forward yesterday, at the highest rate of the past couple of weeks, as a result of stonger iron ore demand, backed by lowe ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
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