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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 $30.0m each. The price reported is impressive when compared to previously reported deals and current price levels and proves that Japanese yards are still in a position to charge a considerable premium to competing shipbuilders elsewhere" the report concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Saturday, 12 January 13
SUB-BIT FOB INDONESIA COAL SWAPS: WEAK
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery has lost 0.32 percent WoW but CFR South China coal ship ...
Saturday, 12 January 13
HIGHER COAL PRICES: SEASONAL EFFECT
COALspot.com : Bahana Securities, one of the leading securities in Indonesia, said in its latest coal outlook that, on US and China&rsquo ...
Friday, 11 January 13
HBA HAS JUMPED BY US$ 5.80 PMT IN JANUARY 2013
COALspot.com - The Indonesian government has declared bench mark price for coal higher than December price. The monthly coal reference price f ...
Thursday, 10 January 13
PANAMAX : SOME GLIMMERS OF HOPE MID WEEK - FEARNLEYS
According to Fearnley’s weekly report, the Atlantic handy market is stable with rates around USD 11k for Cont-Feast and USD 17k bss USG/Feast. ...
Thursday, 10 January 13
DRY BULK PANAMAX MARKET HEAVILY OVERSUPPLIED, UNLIKELY TO FIND SUPPORT IN 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite positive indication for a significant surge of dry bulk demand this year, the oversupply problems of the market, will continue to weigh heav ...
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- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- PTC India Limited - India
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
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