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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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Monday, 05 December 11
THE DECEMBER HBA FELL 11% FROM ITS PEAK AT US$127.05 PER TON IN FEBRUARY 2011
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the December 2011 coal reference price at US$ 112.67 per ton US$ 3.98 ...
Monday, 05 December 11
SGX LAUNCHED IHS MCCLOSKEY/XINHUA INFOLINK OTC CFR SOUTH CHINA COAL CONTRACT TODAY
COALspot.com - In order to meet the demand of the coal industry for an effective coal hedging tool with counterparty credit risk mitigation facility ...
Sunday, 04 December 11
SUPRAMAX TRIPS VIA INDONESIA WERE REPORTED AROUND $ 7500 - 8000 PD
COALspot.com - The BDI and Cape index recovered this week. The BDI was up by 3.26 pct and Cape index saw a big jump and closed at 3409 points (up by ...
Saturday, 03 December 11
BORNEO TO SPEND US$600 MIO CAPEX - INSIDER STORIES
Insider Stories reported that, Coking coal miner PT Borneo Lumbung Energi & Metal Tbk (BORN) plans to spend US$600 million capital expenditure ( ...
Friday, 02 December 11
DRY BULK CARRIERS BACK IN THE SPOTLIGHT AS MARKET SPEEDS UP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the tanker and container markets suffering dearly, it seems that the tide has once again turned in favor of the dry bulk carriers, despite over ...
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- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- The University of Queensland
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
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