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Friday, 04 January 13
DRY BULK MARKET LOOKING FOR DIRECTION IN FIRST TRADING DAYS OF THE NEW YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 The dry bulk market is actively looking for its footing at the start of the New Year, as charters have been scarce, as is usually the case during these days of each year. The industry's benchmark, the Baltic Dry Index (BDI) rose by a couple of points to reach 700 points yesterday, virtually unchanged since the end of 2012. Still, a positive trend has been noted, as the Baltic Capesize Index (BCI) was up by 17 points yesterday, reaching 1,254 points, while marginal increases were also noted in both the Supramax and the Handysize segments. The only exception so far has been the Panamax market, with the relative index losing 10 points during yesterday's session.
According to the latest weekly report from shipbroker Fearnley's, on the Capesize market, it noted that "with most major players physically and mentally on vacation, spot activity has been and is next to none for almost 2 weeks now. For Brazil in particular, prompt cargo stems have been extremely few and far between - with a resultant piling up of early tonnage in S.Africa and elsewhere, along with softening freight levels. With average daily earnings well below USD 5k and the whole Cape fleet already slow-steaming, idling is becoming an ever more realistic alternative. Period fixing has come to a complete halt - but is expected to resume at lower levels or indexed-linked as takers are still ready to pick the right ships and tonnage providers are faced with few alternatives" it said.
On the Panamax front, Fearnley's noted that "with Christmas holidays fresh in mind and a couple of days into 2013 the following may summarize the past week. The activity has been scarce but some business has been concluded. In the Atlantic; breaching of INL and trading to and from icebound ports has led to some high fixtures. Such trades apart, the TA market is slowly sliding. In the Pacific we see a similar but stronger tendency. Spot ships are forced to start ballasting or drop the anchor to wait for activity. We expect the coming week to be decisive in which direction the market is going, as several countries are still away for holidays".
Finally, commenting on the Handy markets, Fearnley's said that "the Indian market is very quiet in respect of export of iron ore. For Indo-India trip Supra rate is hovering between 11000/12000 bss passing Singapore and around USD 9000 for short period. Spmx freight rate from Red Sea/India is around mid teens" it concluded.
Meanwhile, according to a recent report from DVB Bank, as a result of the huge orderbook, freight rates are expected to remain under pressure throughout 2013. exactly how much will this pressure be, will depend on the way that the orderbook and deliveries progress during the year. In the worst case senario, rates could once again bottom out by the end of 2014, should the world economy be stabilised and avoid slipping into yet another period of recession. DVB advised shipowners to reduce contracting and increase scrapping activity, if they wish to keep earnings above operating expenses.
After all, the level of growth of the dry bulk fleet has been stellar, with record breaking newbuilding deliveries for every year since the start of 2009. According to the analysis, since October of 2011, the dry bulk fleet has increased by an impressive 75 million dwt or 758 vessels, representing a growth rate of 13%. Today, the orderbook stands at 130 million dwt, equating to about 20% of current fleet. "The orderbook for all Capesize vessels is large with the fleet relatively young having an average age about 7 years. Merely 3.5% of the Capesize fleet is over 25 years of age. The VLBC and ULBC fleets are expanding rapidly, mainly due to the Vale vessels being delivered. These vessels entering the fleet will undoubtedly have a huge negative impact on all Large Cape asset values as well as T/C rates and will impact earnings of other Sub-Sectors as well" said DVB in its report.
Meanwhile, in terms of newbuilding activity during the last week of 2012 as many as 23 ships were contracted, with STX securing 16 of these. According to Fearnley's the largest order was placed by BP Shipping of UK for three Suezmax´ and ten Aframax´ at STX Jinhae. Price reported to 50 mill USD and 60 mill USD respectively for the Aframax and the Suezmax vessels. STX has also secured two more 22,000 cbm LPG carriers from Ultranav of Chile, bringing the total order by Ultranav at STX to eight ships of this type. HHI has also secured LPG carrier order over the past week, as Tomza Group booked a VLGC for delivery July 2014 with price reported to 74 mill USD. The new VLGC design from HHI will be equipped with latest G-type main engine and eco hull form in order to save around 10 t/day of fuel compared to existing VLGCs" the shipbroker concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Sunday, 13 January 13
THE FREIGHT MARKET: FAIRLY STEADY - VISTAAR
COALspot.com - The freight market was fairly steady with all the indices up with maximum gain in the Panamax segment. The BDI was up by 7.65 pct clo ...
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. ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- White Energy Company Limited
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
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