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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 $30.0m each. The price reported is impressive when compared to previously reported deals and current price levels and proves that Japanese yards are still in a position to charge a considerable premium to competing shipbuilders elsewhere" the report concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Saturday, 12 January 13
SUB-BIT FOB INDONESIA COAL SWAPS: WEAK
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery has lost 0.32 percent WoW but CFR South China coal ship ...
Saturday, 12 January 13
HIGHER COAL PRICES: SEASONAL EFFECT
COALspot.com : Bahana Securities, one of the leading securities in Indonesia, said in its latest coal outlook that, on US and China&rsquo ...
Friday, 11 January 13
HBA HAS JUMPED BY US$ 5.80 PMT IN JANUARY 2013
COALspot.com - The Indonesian government has declared bench mark price for coal higher than December price. The monthly coal reference price f ...
Thursday, 10 January 13
PANAMAX : SOME GLIMMERS OF HOPE MID WEEK - FEARNLEYS
According to Fearnley’s weekly report, the Atlantic handy market is stable with rates around USD 11k for Cont-Feast and USD 17k bss USG/Feast. ...
Thursday, 10 January 13
DRY BULK PANAMAX MARKET HEAVILY OVERSUPPLIED, UNLIKELY TO FIND SUPPORT IN 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite positive indication for a significant surge of dry bulk demand this year, the oversupply problems of the market, will continue to weigh heav ...
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- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
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