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