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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, 28 November 11
CITING CONTRACTS, MINING FIRMS ARE NOT PAYING ROYALTIES UNDER LAW - THE JAKARTA POST
The Jakarta Post reported that, when the 2009 Law on Minerals and Coal was endorsed, hopes that Indonesia could maximize its revenue from the minera ...
Monday, 28 November 11
NEW ENVIRONMENTAL MARINE REGULATIONS TO IMPACT SHIPPING IN 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
August of next year will see some major changes for marine navigation. It’s when the North American ECA will come into force, introducing a 1% ...
Sunday, 27 November 11
INDIA'S KPCL TO IMPORT 50 MMT OF COAL FOR 10 YEARS
COALspot.com - Karnataka Power Corporation Limited (KPCL) will buy 5 million metric tonnes of coal annually for 10 years starting from 2015.
In a ...
Saturday, 26 November 11
INDIAN PORTS ARE BECOME COAL STOCKPILES..!!
COALspot.com - The Indian coal stocks and power tariff situation is the hot topic among the world coal producers as well as Indian coal importers.&n ...
Saturday, 26 November 11
THE FREIGHT MARKETS EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The market were down probably with the sentiments of global financial markets and all segments were down.
The BDI was up down by 4 ...
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- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- The University of Queensland
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Planning Commission, India
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
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