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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, 12 February 13
GOVERNMENT DECLARED INDONESIAN THERMAL COAL PRICE INCHES UP IN FEBRUARY
COALspot.com - The Indonesian government has declared bench mark price for coal has moved upwards in February 2013.
The monthly coal refere ...
Monday, 11 February 13
NEWCASTLE PORT SHIPPED 23.01 PERCENT MORE COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,967,761 MT of thermal and coking coal for week ended 0700 hours 11 February 2013, Newc ...
Sunday, 10 February 13
INDONESIA SUB-BIT SWAPS: "UP" - CFR SOUTH CHINA SWAPS: "DOWN"
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 0.72 percent W-O-W and CFR South China coal shipme ...
Sunday, 10 February 13
DRY BULK OVERSUPPLY OF TONNAGE SEEN WANING IN THE COMING MONTHS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It seems that the tide could be shifting in the dry bulk market, in terms of tonnage oversupply, according to the latest data figures. This could ex ...
Sunday, 10 February 13
HIGHER BUNKER PRICE PUSHES SEA FREIGHTS FIRM - REDDY
COALspot.com - The freight market was soft and all at same levels with Chinese year holidays next week.
The BDI was slightly down by 0.27 pct ad ...
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- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- White Energy Company Limited
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
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