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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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Saturday, 29 December 12
SHIPBREAKING YARDS IN INDIA DEMOLISH A TOTAL OF 527 VESSELS IN 2012, BREAKING ALL PREVIOUS RECORDS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
India's ship demolition experts of Star Matrix contemplated this week on the issue of why ships in the range of 1,000 and up to 6,500 liquid tons ( ...
Thursday, 27 December 12
A LOOK AT WORLD TRADE PATTERNS DURING 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
While China's leaders are likely to stick with the 2012 economic growth rate of 7.5% when they chart a course for 2013 - its weakest pace since 199 ...
Thursday, 27 December 12
INDONESIA SHIPPED 33.578* MMT COAL IN NOVEMBER
COALspot.com: Indonesia, the world largest multi grade coal exporter has shipped 33.578* million tons of coal in November 2012. thi ...
Wednesday, 26 December 12
UPDATE ON EXPORT BAN ON RAW MINERALS AND ORE - RITA SUSANTO
COALspot.com - In May 2012, the Minister of Energy and Mineral Resources (“MoEMR”) in Regulation No.7 (“Reg-7”, amended by R ...
Wednesday, 26 December 12
SHIP OWNERS WRAP UP NEWBUILDING DEALS PRIOR TO YEAR END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the year inches closer and closer to its end, many ship owners are looking to close deals for newbuilding vessels they have been negotiating duri ...
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- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Planning Commission, India
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- White Energy Company Limited
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
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