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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, 01 December 11
DRY BULK MARKET RISES TO NEW HEIGHTS ON RENEWED DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept on rising this week, with the industry’s benchmark, the Baltic Dry Index (BDI) climbing to 1,846 points on Wednes ...
Tuesday, 29 November 11
SOUTH AFRICAN COAL INTO CHINA, THE ACTIVITY WAS SLOW - BRS
Capesize
The Capesize market in Atlantic stayed pretty firm last week with transatlantic rounds being fixed in the high twenties. Sentiment was les ...
Tuesday, 29 November 11
GOLDEN GATE BRIDGE OF INDONESIA COLLAPSED AT KUKAR, EAST KALIMANTAN
COALspot.com - A suspension bridge in Indonesia’s east Kalimantan province over the Mahakam river collapsed on Saturday, killing at least elev ...
Tuesday, 29 November 11
BUKIT ASAM SCOUTS RP3 TRILLION PROFIT - INSIDER STORIES
The state-controlled coal miner PT Bukit Asam Tbk (PTBA) expects to post a Rp3 trillion net income this year, reaching its target which is 50% above ...
Tuesday, 29 November 11
DRY BULK MARKET BEGINS WEEK ON HIGHER NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Contrary to what had been the case during the past few weeks, this one began on a high note for the dry bulk market, with the Capesize sector pullin ...
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- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
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