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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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Thursday, 22 March 12
DRY BULK MARKET KEEPS SURGING, CAPESIZES FALLING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what seems to be an establishing pattern, the dry bulk market has kept its upward momentum, edging closer to the 900 point-mark, but the larger s ...
Wednesday, 21 March 12
BUMA HAS PRODUCED 2.3 MILLION TONS OF COAL IN FEBRUARY 2012
COALspot.com - PT. Delta Dunia Makmur's overburden removal in February 2012 has reached totaled 23.8 million bcm (+2.4% YoY) while coal production ...
Tuesday, 20 March 12
SMALLER DRY BULK VESSELS STILL LEADING DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been growing during the past couple of weeks, but contrary to the usual practice, it’s not the larger Capesizes which ...
Monday, 19 March 12
WEEKLY DRY MARKET OVERVIEW: SMALLER VESSELS LEAD RATES HIGHER - MARIA BERTZELETOU, HELLENIC SHIPPING
The upward trend of the Baltic Dry Index persists strong from the end of February, spurred from the supramax market that offsets the weakness in the ...
Sunday, 18 March 12
BUKIT ASAM'S NET PROFIT IN 2011 ROSE 54% TO US$ 339.56 MILLION
COALspot.com - Company revenue for the period January - December 2011 amounting to Rp 10.6 trillion (approximately US$ 1,164,835,164.84) recorded an ...
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- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
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- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
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- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Goldman Sachs - Singapore
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- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Sical Logistics Limited - India
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- MS Steel International - UAE
- White Energy Company Limited
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