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