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Friday, 25 January 13
SMALL ROOM FOR OPTIMISM FOR THE PROSPECTS OF THE DRY BULK MARKET AS NET FLEET GROWTH IS SLOWING DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 Despite the fact that the dry bulk market didn't manage to post a rebound during the past year, quite the opposite, as a fast fleet growth and slower demand growth pushed freights rates lower. According to the latest weekly report from shipbroker Intermodal, the Baltic Dry Index averaged at 920 points, the lowest level in over 25 years, while it was only the second time in history that the BDI dropped below the 1,000 point mark on average during a whole year.
According to an analysis from Intermodal's Yannis Olziersky, "except for the expected seasonal gains (March – May & September – November), which even these were subdued this year, freight rates have remained under pressure and in many occasions vessels were forced to trade below their OPEX as demand throughout the year didn't grow by as much as was needed; the recessive economic conditions in the developed countries (EU and US) and the slowing down of economic growth in the emerging countries, widened evermore the gap between supply and demand, resulting in one of the worst years for the dry bulk sector" he said.
Looking forward into 2013, the shipbroker's report points at a few parameters of the market that could offer room for some fresh opportunities and the basis for renewed hope. "Although much of the fundamentals point towards another difficult year, there is a small glimpse of hope in the horizon that we may be surprised and see things turn out much better then we initially expected. For instance, "net fleet growth is slowing down despite the large number of deliveries scheduled over the next twelve months. Scrapping activity hit a record number in 2012 with approximately 52mdwt (approx. 34mdwt of these where dry bulkers) removed from active service, while the presently firm prices witnessed in the demo market are substantial basis that this momentum can be maintained in 2013 and possibly even feed another record scrapping year! Some investments on the second hand dry market made by shipowners with long and respectable tradition in the shipping market point towards the presence of optimism (although only slight) for the future prospects as well as potentially the presence of prime conditions for asset play. A new monthly high record of Chinese iron ore imports in December and an annual record of 740mt show that China is still ramping up its industrial production and still there to support the bulk carrier fleet" Olziersky said in his report.
Concluding the argument, the shipbroker said that "although the above points indeed provide some room for optimism for the future, the pace of new additions in the dry market along with the current global economic turmoil, creates some scepticism and hesitance as to whether the rebound is just around the corner or still a long way away. On the other hand and as has been mentioned countless times, opportunities can always be found during crisis and adverse market conditions. With present asset values standing close to their historical lows and having been in a “shipping crisis” for almost 5 years now, it might not be such a bad idea to invest now after all" it concluded.
Meanwhile, in the newbuilding market, a crucial element of future fleet growth, Intermodal said that is was another fairly busy week, especially when compared to market expectations. "While it is the wet sector that appears to be enjoying most of the newbuilding interest, especially in the product/chemical segments, the container market has finally shown some signs of life this past week. For an extremely troubled sector that has seen the average vessel size increase significantly throughout the years, containers are looking like they might slowly make a small comeback as far as new orders are concerned, especially when big market players like Seaspan are still willing to place such impressive orders. In terms of reported deals this week, Jebsen (Norway), placed an order of 3 Kamsarmaxes at the shipyard JV of Universal-JMU in Japan for an excess of $30.0m each. The price reported is impressive when compared to previously reported deals and current price levels and proves that Japanese yards are still in a position to charge a considerable premium to competing shipbuilders elsewhere" the report concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 28 January 13
BAYAN RESOURCES TO SELL 18 MILLION TONS OF COAL TO GNPOWER MARIVELES COAL PLANT
Publicly-listed PT Bayan Resources announced on Friday that it had signed an agreement on coal sales with Philippine-based GNPower Mariveles Coal Pl ...
Sunday, 27 January 13
CFR SOUTH CHINA COAL SWAPS: WEAK
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery has gained 0.31 percent and CFR South China coal shipment&nbs ...
Sunday, 27 January 13
FREIGHT MARKET: FLAT TO SOFT - VISTAAR
COALspot.com - The freight market was soft and all the indices were down except for handy size.
The BDI was down 4.66 pct closing at 798 points.. ...
Friday, 25 January 13
BOTSWANA GOVERNMENT GRANTS COAL LICENSES TO A-CAP RESOURCES LIMITED
A-Cap Resources Limited has announced that it has been granted coal rights within its Bolau tenements which sit next to the Sese Coal and Power Proj ...
Thursday, 24 January 13
INDO - INDIA NOW AT APS $ 8K + BB USD 90000 - FEARNLEYS AS
Handy
The Atlantic market remains stable as supply of tonnage is still in excess of demand. USG- Far east fixed at $18k and CONT-FEAST at $ 11k. Pa ...
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- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
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