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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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- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Planning Commission, India
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Australian Coal Association
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
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