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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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Sunday, 20 January 13
S7 & S8 ROUTE FREIGHT TREND IS EXPECTED TO BE FLAT TO SOFT THIS WEEK - VISTAAR
COALspot.com - The freight market was fairly steady with all the indices BDI up by 9.21 pct closing at 837 points. The Cape index was also sharply u ...
Friday, 18 January 13
NEWLEAD HOLDINGS LTD. TO ACQUIRE TWO COAL PROPERTIES WITH ESTIMATED COAL RESERVES OF 18.6 MMT & 143.1 MMT
NewLead Holdings Ltd. Announces Signing Agreement to Acquire Properties with Estimated Coal Reserves of 18.6 Million Tons; Signing Agreement to Acqu ...
Friday, 18 January 13
DRY BULK MARKET ON THE RISE, ON STRONG DEMAND FOR CAPESIZE VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has continued its climbing trend yesterday, as the industry's benchmark, the Baltic Dry Index (BDI) was up by 39 points to 820. ...
Friday, 18 January 13
CAPESIZE : SIGNALS ARE MIXED BUT THE OVERALL TENDENCY IS POSITIVE - FEARNLEYS
Handy
The Atlantic market remained stable with USG-Feast fixed around USD 17k, according to fearnleys’s weekly report.
Continent / Medite ...
Tuesday, 15 January 13
GRANT SMITH APPOINTED GROUP MANAGING DIRECTOR OF BRAEMAR ADJUSTING
The Board of Braemar Adjusting is delighted to announce the appointment of Grant Smith as Group Managing Director of the company with immediate effe ...
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- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
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