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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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Thursday, 24 January 13
DRY BULK MARKET FALLS ON TROPICAL CYCLONE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been on the downside during the past couple of days, mainly as a result of the tropical storm which forced ports to close do ...
Tuesday, 22 January 13
PORT OF ANTWERP HANDLES 7.0 PERCENT MORE COAL IN 2012 Y-Y
COALspot.com - The port of Antwerp handled 184,134,516 tonnes of freight last year.
This represents a drop of 1.6% compared with 2011, when the v ...
Monday, 21 January 13
NEWCASTLE PORT SHIPPED 10.21 PERCENT LESS COAL W/E 21 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 2,804,152 MT of thermal and coking coal for week ended 0700 hours 21 January 2013, Newca ...
Monday, 21 January 13
PANAMAX DRY BULK CARRIERS AND AFRAMAX TANKERS PROVED TO BE THE "WEAPON OF CHOICE" FOR MOST SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With ship financing getting ever so difficult to procure during the past year or so, ship owners had to get creative in order to persuade banks and ...
Sunday, 20 January 13
Q1 & Q4 SUB-BIT FOB INDONESIA COAL SWAPS: FIRM
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) and CFR South China coal shipment for average Q1’ 2013 delivery have gained 0.81percent and ...
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- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- White Energy Company Limited
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Parliament of New Zealand
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
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