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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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Wednesday, 02 January 13
NEWCASTLE PORT SHIPPED 23.61 PERCENT MORE COAL W-W
COALspot.com - Newcastle port in Australia has loaded 3,533,183 MT of thermal and coking coal for week ended 0700 hours 31 December 2012, Newc ...
Wednesday, 02 January 13
DRY BULK MARKET TO STAY ELEVATED IN START OF 2013 BUT THE NEW YEAR WILL NOT BE WITHOUT TURBULENCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In its regular update on the dry bulk market, BIMCO forecasted, that Capesize time-charter rates are expected to stay elevated in the following six ...
Monday, 31 December 12
KOSEP IS LOOKING FOR 280K MT OF 4600 NCV COAL FOR APRIL - JUNE 2013
COALspot.com : South Korean state-owned utility Korea South-East Power Co., Ltd. (KOSEP), has issued an new tender for prompt supply of 280,00 ...
Monday, 31 December 12
VALE CELEBRATES ARRIVAL OF "VALE SOHAR" BULK CARRIER TO SULTANATE WITH MEMBERS OF COMMUNITY
'Vale Sohar', one of the largest bulk carriers in the world, was welcomed to Oman by members of the North Al Batinah community headed by H.E. Shei ...
Monday, 31 December 12
"DISTRESSED", "ECO" AND "FINANCE" ARE THE THREE WORDS WHICH CHARACTERIZED 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
2012 was yet another year of speculation, anticipation, pessimism and more speculation in the shipping markets. According to the latest weekly repor ...
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- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- The University of Queensland
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Australian Coal Association
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Planning Commission, India
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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