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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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Monday, 28 January 13
BAYAN RESOURCES TO SELL 18 MILLION TONS OF COAL TO GNPOWER MARIVELES COAL PLANT
Publicly-listed PT Bayan Resources announced on Friday that it had signed an agreement on coal sales with Philippine-based GNPower Mariveles Coal Pl ...
Sunday, 27 January 13
CFR SOUTH CHINA COAL SWAPS: WEAK
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery has gained 0.31 percent and CFR South China coal shipment&nbs ...
Sunday, 27 January 13
FREIGHT MARKET: FLAT TO SOFT - VISTAAR
COALspot.com - The freight market was soft and all the indices were down except for handy size.
The BDI was down 4.66 pct closing at 798 points.. ...
Friday, 25 January 13
BOTSWANA GOVERNMENT GRANTS COAL LICENSES TO A-CAP RESOURCES LIMITED
A-Cap Resources Limited has announced that it has been granted coal rights within its Bolau tenements which sit next to the Sese Coal and Power Proj ...
Thursday, 24 January 13
INDO - INDIA NOW AT APS $ 8K + BB USD 90000 - FEARNLEYS AS
Handy
The Atlantic market remains stable as supply of tonnage is still in excess of demand. USG- Far east fixed at $18k and CONT-FEAST at $ 11k. Pa ...
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- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- The University of Queensland
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Australian Coal Association
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
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