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Friday, 30 March 12
RECOND NUMBERS SURROUNDING THE SUPRAMAX DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 Last year proved to be both a record year in the number of deliveries of dry bulkers between 40,000dwt and 64,000dwt, as well as a record year in the percentage of cancellations and delays witnessed. According to a recent report from shipbroker Intermodal, "at the same time for 2012 we have already seen around 53 vessels being delivered so far, while another 437 are scheduled for delivery till the end of the year. This is the majority of the current orderbook accounting for just over 72 percent of its total.
With the overcapacity issue having already made its presence felt in the first two months of 2012, it is anticipated that the percentage of orders being delayed or cancelled is likely to accelerate this year, greatly outpacing what was seen in 2011. However even taking a modest approach, whereby expecting an equal rate of cancellations and delays as last year, at least 140 of the vessels scheduled for delivery for 2012, are unlikely to have entered the water by the end of the year.
"Simultaneously, there has been a growing interest in the new Ultramax designs, were we have already seen 9 vessels delivered in 2010, 20 in 2011 and another 4 this year so far. With many owners now unwilling to further add to the growing overcapacity problem, new orders this year have mainly focused on designs that offer any cost advantage when compared to the already in service fleet. These new Ultramax designs have offered much improvement in fuel efficiency while adding further cargo capacity when compared to the typical supramax designs" said Intermodal’s George Dimitriadis.
He concluded by mentioning that “few owners however, seem convinced of the benefits they will bring and even more that they will not be much better off than the rest of the fleet in period of poor freight market conditions. The truth is that, parcel sizes are unlikely to change that soon to accommodate the larger carrying capacity, while on the fuel efficiency part it seems as though the difference in consumption is relatively small, while with the ever increasing bunker prices, we are likely to see newer designs offering much higher fuel economy” said Dimitriadis.
In a separate report from Intermodal, George Eliades examined the latest data from China. He said that “with recent estimates putting Chinese growth below the levels originally hoped for, the shipping markets have started to feel the strain. Having said that growth levels are still more bullish then what has been witnessed lately in the commodities market, while the China’s economic policy priority has remained to maintain relatively fast growth. The question that has arisen these past months is as to what extent Beijing is willing to guard against inflation risks in favour of measure to push for faster growth.
China’s reforms to rebalance its economy have gone way beyond the housing sector and will continue to be targeted towards achieving relatively fast growth and stable prices that should help total trade maintain double digit growth this year, according to a recent speech given by Vice Premier Li Keqiang. "We will make policies more targeted, flexible and forward-looking to maintain relatively fast economic growth and keep price levels basically stable," he said in a speech at an economic policy conference. Li said that there were some encouraging signs emerging about the pace of global economic recovery, and forecast that China's total trade would top $10 trillion in the five years 2011-2015, but added that the outlook was not certain, with efforts to resolve Europe's debt crisis still evolving.
How does this translate for the shipping sector? “Well fears of a slowdown in China’s growth coupled with the poor performance of the US and European economies has already been well reflected in the dry commodities trade. Overall it has proven to be a slow start to the year. At the same time one must take into consideration that the market has fared considerably well if one takes into account the fact that we are undergoing a considerable increase in the number of vessels, while the intense stockpiling that went on before the start of the New year has led to a below average demand for cargoes in the first quarter. Having said that, with China’s policies now directly set to boost its trade growth, America showing signs of a slow but steady recovery and Europe looking to have smoothed out most of its major sovereign debt problems, dry bulk trade could start to pick up once again over the next quarter and although the oversupply issue continues, a more positive outlook maybe in the works after all” concluded Eliades.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 08 May 12
DRY BULK MARKET LOOKING FOR NEW DIRECTION THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the BDI (Baltic Dry Index) the main benchmark of the dry bulk shipping industry not traded at the start of this week, traders, charterers and s ...
Monday, 07 May 12
INDONESIAN HBA FALL AGAIN IN MAY 2012
COALspot.com - Indonesian HBA fall again to lowest level since January 2011 in May 2012. The monthly coal reference price for coal sales in Ma ...
Sunday, 06 May 12
INDONESIAN SUB-BITUMINOUS COAL & CFR SOUTH CHINA SWAPS SLIGHTLY DROP THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for June deliveries slightly dropped this week.
According ...
Sunday, 06 May 12
S7 & S8 ROUTES LIKELY TO BE FIRM NEXT WEEK VISTAAR SINGAPORE
COALspot.com - The BDI remained flat this week and was up just by 1 point closing at 1,157 points.
The cape size index was up by 5.14 pct closing ...
Sunday, 06 May 12
EXPORT DUTY ON MINERAL FINALLY TO BECOME EFFECTIVE NEXT WEEK
COALspot.com - Mineral ore exporters of Indonesia ( only IUP holders) are required to obtain recommendation letter from the energy and mineral ...
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- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- VISA Power Limited - India
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Economic Council, Georgia
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
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