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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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Friday, 08 February 13
NORTH P&I CLUB WARNS OF LIQUEFACTION RISK FOR BAUXITE CARGOES
The ‘A’ rated 170 million GT North P&I club has warned shipowners carrying bauxite aluminium ore cargoes that they have the potentia ...
Thursday, 07 February 13
CHINA NDRC APPROVED 10 BILLION YUAN POWER GENERATION PROJECTS
NDRC of China currently announced that some of power grid and power station in Jiangxu, Sichuan and Anhui Province would be newly constructed or ext ...
Thursday, 07 February 13
CAPESIZE : MORE ACTIVE WEEK IN THE PACIFIC - FEARNLEYS AS
Handy
The Atlantic market remained stable with no significant movement in rates. Rates from USG to FEast were around USD 18k and Black Sea to Feast ...
Thursday, 07 February 13
WEAK STEEL MARKET MEANS IRON ORE RALLY LIKELY TO END SOON - FITCH
The sharp rebound in iron ore prices over the last couple of months will hurt margins at non-integrated steel producers in the first quarter of 2013 ...
Tuesday, 05 February 13
THE SHIPPING SECTOR IS " NAVIGATING IN STORMY WATERS" - PWC
The vulnerabilities of the global economy have been exposed and have more than played their part in making 2011 one of the worst years of shipping i ...
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- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Planning Commission, India
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- GMR Energy Limited - India
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
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