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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 $30.0m each. The price reported is impressive when compared to previously reported deals and current price levels and proves that Japanese yards are still in a position to charge a considerable premium to competing shipbuilders elsewhere" the report concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 05 February 13
NEWCASTLE PORT COAL SHIPMENTS DROPPED BY 10.77 PERCENT W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,412,497 MT of thermal and coking coal for week ended 0700 hours 4 February 2013, Newca ...
Tuesday, 05 February 13
CHALLENGER DEEP RESOURCES CORP HAS ENTERED INTO AN EXCLUSIVE MINING AND MARKETING AGREEMENT WITH KEM
COALspot.com - Challenger Deep Resources Corp., through its wholly owned subsidiary, PT Bestindo Energy, has entered into an Exclusivity Agreement r ...
Saturday, 02 February 13
ADARO TO INTRODUCE A NEW BRAND OF ENVIROCOAL, E4700, IN 2013
COALspot.com - Adaro Energy, an Indonesian and leading coal producer in country has achieved a record coal production during 4Q12 of 13.31 mil ...
Saturday, 02 February 13
FREIGHT MARKET MAY REBOUND AFTER CHINESE NEW YEAR - VISTAAR
COALspot.com - The freight market was soft and all the indices were down by around 5-7 pct this week.
The BDI was down 6.01 pct closing at 750 po ...
Friday, 01 February 13
ORPHEUS SELLS B26 COAL PROJECTS FOR US$ 2 MILLION TO FOCUS ON SOUTH KALIMANTAN
COALspot.com - Orpheus Energy Limited (ASX: OEG) has announced that it has sold its 51 percent equity stake in the East Kalimantan coal projects, Bl ...
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- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Economic Council, Georgia
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Central Electricity Authority - India
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
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