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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 $30.0m each. The price reported is impressive when compared to previously reported deals and current price levels and proves that Japanese yards are still in a position to charge a considerable premium to competing shipbuilders elsewhere" the report concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 08 January 13
HOLIDAY ACTIVITY SCARCE IN THE MARKET OF SECOND HAND VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Although the market for second hand vessel purchasing was quite lull during the Holiday period, as is usually the case, the first days of the New Ye ...
Tuesday, 08 January 13
NEWCASTLE PORT SHIPPED 3.197 MILLION MT OF COAL W/E 7 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 3,197,580 MT of thermal and coking coal for week ended 0700 hours 7 January 2013, Newcas ...
Sunday, 06 January 13
CFR SOUTH CHINA COAL: 2014 DELIVERY CLOSED US$ 6.80 HIGHER THAN Q1 '13 PRICE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery has gained 0.37 percent WoW and CFR South China coal sh ...
Sunday, 06 January 13
COAL BOOM: WAKE-UP CALL FOR INDIA & INDONESIA! - SUNIL K KUMBHAT
COALspot.com - Coal Boom : Scenario, Now & later!
Coal has been the dominant fuel for power generating plants in developed countries since th ...
Sunday, 06 January 13
FREIGHT MARKET REMAINED FAIRLY STEADY - VISTAAR
WISH YOU ALL HAPPY NEW YEAR
COALspot.com - The freight market remained fairly steady in spite of Christmas / New Year Holidays. The BDI was almos ...
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- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- White Energy Company Limited
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- The University of Queensland
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
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