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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, 15 January 13
2ND MYANMAR MINING SUMMIT & OFFICIAL HOST MINISTRY OF MINES TO WELCOME OVER 200 DELEGATES NEXT WEEK
Press Release: The Ministry of Mines is hosting the 2nd Myanmar Mining Summit in Yangon on 21-24 January to unravel the local mining climate, prospe ...
Monday, 14 January 13
NEWCASTLE PORT SHIPPED 2.32 PERCENT LESS COAL W/E 14 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 3,123,312 MT of thermal and coking coal for week ended 0700 hours 14 January 2013, Newca ...
Monday, 14 January 13
THE COAL MONGOLIA - 2013 OFFICIALLY IN COOPERATION WITH TOP MINING COMPANIES
Press Release: Mongolian first mining portal site Mining.mn has already started its preparation of the International Conference “COAL MONGOLIA ...
Monday, 14 January 13
NTPC INVITES BIDS FOR 500K MT OF IMPORTED COAL
COALspot.com - NTPC Limited (formerly National Thermal Power Corporation) is the largest Indian state-owned electric utilities company called for a ...
Sunday, 13 January 13
THE FREIGHT MARKET: FAIRLY STEADY - VISTAAR
COALspot.com - The freight market was fairly steady with all the indices up with maximum gain in the Panamax segment. The BDI was up by 7.65 pct clo ...
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- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Australian Coal Association
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
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