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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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Friday, 25 November 11
DISPUTE BETWEEN GIANT MINING FIRMS ENDS IN LAHAT - THE JAKARTA POST
The Jakarta Post reported that, prolonged dispute taking place in the South Sumatra regency of Lahat and involving two giant mining companies PT Buk ...
Friday, 25 November 11
DRY BULK MARKET LOSING STEAM, FAST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It’s been a week of falls for the dry bulk market this one, leaving ship owners with a sour taste in their mouths, as evidence of a recovery i ...
Thursday, 24 November 11
INDONESIA/INDIA SPMX TC AROUND $ 7/8K AND AROUND $ 12/13.00 PMTS ON VOYAGE BASIS - FEARNLEYS
Handy
Last week ended on a positive note in the Atlantic however the activity levels are somewhat reduced. Owners are asking in excess of USD ...
Thursday, 24 November 11
DRY BULK MARKET KEEPS LOSING STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was lower once again on Wednesday, with the industry’s benchmark, the Baltic Dry Index (BDI) ending the session down by 1. ...
Tuesday, 22 November 11
NTPC TO BUY 2 MMT OF IMPORTED COAL FOR ITS FOUR PLANTS
COALspot.com - NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government of India, the largest thermal power generati ...
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- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- PTC India Limited - India
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- VISA Power Limited - India
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Australian Coal Association
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Sakthi Sugars Limited - India
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