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Monday, 02 July 12
DRY BULK DEMAND TO RISE TO 3.6 BILLION TONNES IN 2012, BUT NEW BUILDING DELIVERIES ARE
 In its latest analysis on the dry bulk market fundamentals, DVB Bank said that dry bulk cargo demand is forecast to rise to approximately 3.6 billion tonnes in 2012, but it just isn't enough to help offset the magnitude of the newbuilding orderbook and the pace of ship deliveries. In its research, DVB mentioned that so far this year (the fourth year of record breaking newbuilding deliveries) a total of 529 vessels, representing 44.4 million dwt have already been delivered. Another 1,148 vessels of 93.5 million dwt are scheduled for delivery until the end of 2012. This is about 58% of the current orderbook, which stands at 2,001 vessels of 161.3 million dwt, which in turns represents about 25.8% of the current fleet.
As a result, asset values as well as earnings are not expected to recover anytime soon. DVB stated that "we may see the markets bottom by the end of 2013 and remain flat thereafter. However, this is subject to owners not indulging in more newbuilding contracting if they see a seasonal spike in freight rates".
According to the research report, the fleet of dry bulk carriers now stands at 9,251 vessels with a total carrying capacity of 625.5 million dwt. The average age of the fleet is about 11 years and 61.8% of the fleet is less than 10 years of age. In addition, the average age of vessels less than 10 years of age is merely 3.1 years – an extremely young fleet. In dwt terms, Large Capes constitute the largest portion of current fleet while Panamax size vessels have the largest orderbook. The ULBC size range (280K+ dwt) is expanding rapidly and mainly consists of the 400k+ Vale vessels. Thus far, 11 of these behemoths have delivered. In its report, DVB mentioned that "these massive 400K+ dwt vessels will have a negative impact on asset values as well as freight rates not only for this Sub-Sector but for all smaller Sub-Sectors (VLBC, Large Capes and Small Capes) as well. Each of these Valemax vessels can replace about 2.3 three Large Capes from the market, all other things being equal" it mentioned.
In terms of slippage, in 2011 it was calculated by us at about 38%. Even with 40% delays, DVB expects to see more than 1,200 vessels added to the fleet this year. It justifies the oversupply issues by the fact with more than 2,000 different dry bulk ship owners, different strategies and circumstances exist, whether they are commercial or financial. Still, in any case 2010 saw the contracting of 1,259 vessels of 95 million dwt, while 2011 (when one would expect owners to refrain from more orders) saw the contracting of an additional 523 vessels of 38 million dwt, despite oversupply pressures already evident. Fortunately the pace of newbuilding ordering activity has contracted severely so far this year, as orders have been placed for only 68 vessels of 5 million dwt.
Much is to be decided in the demolition stage. Unfortunately, despite the record breaking numbers of tonnage removed from the market during 2011, it still represented just 3.7% of the existing fleet, according to DVB, when in 1986, which was the last peak scrapping year, demolitions represented 7% of the fleet. At the same time, in 2011 for every vessel scrapped, three new ones were added to the fleet as newbuildings. As a result for the market to balance, scrapping activity needs to at least triple from current numbers. DVB urges ship owners to scrap even if prices offered from scrapyards are lower. It said that "owners who cannot realistically survive another couple of years of low freights need to realise this and rise up to the challenge and scrap".
It added that after the negligible scrapping rates of 2007 and 2008, when the market was at its highest, 2009 saw the scrapping of 10.9 million dwt of dry bulk carriers (256 vessels were demolished). Unfortunately, the market's recovery in 2010 saw, once again, a decline in scrapping activity with just 5.3 million dwt of vessels scrapped (121 ships). Finally, in 2011 a total of 379 vessels were scrapped, removing a total of 23.2 million dwt. It was the biggest scrapping year since 1964, but again it wasn't enough for the market to balance, as an additional 97 million dwt of newbuildings were delivered. So far, during the first five months of 2012 a total of 225 vessels of 13.8 million dwt have been scrapped, which means that this year could be yet another record breaker, but it still isn't enough.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 04 June 12
MITRABAHTERA SUBSIDIARY SECURES CONTRACT FROM BERAU COAL - INSIDER STORIES
Insider Stories reported that, PT Mitra Alam Segara Sejati, a subsidiary that is 60% owned by PT Mitrabahtera Segara Sejati Tbk (MBSS), has secur ...
Sunday, 03 June 12
TTI ESTABLISHES COAL TRADING & MARKETING OFFICE
COALspot.com - TTI has officially established its coal trading, marketing-office in Jakarta, Indonesia. PT. Gunung Tinggi Coal is the TTI’s fi ...
Sunday, 03 June 12
FREIGHT MARKET CONTINUING ITS DECLINE
COALspot.com - The BDI continued to fall for the fifth straight week and the BDI fell by 2.57 pct this week closing at 904 points.
The Cape Size ...
Friday, 01 June 12
TNPL HAS SECURED 300K MT OF 6000 GAD COAL AT US$ 81 CNF TUTICORIN
COALspot.com - An India based coal trader Adani has offered the lowest price of US$ 81.00 per metric ton for calorific value of 6000 GAD and 15 perc ...
Friday, 01 June 12
COKAL ACCEPTED ON THE CLEAN AND CLEAR LIST FOR ITS BORNEO BARA PRIMA AND BUMI BARITO MINERAL PROJECTS
- Borneo Bara Prima (BBP) Project confirmed on the Clean and Clear List 9th May 2012
- Bumi Barito Mineral (BBM) Project confirmed on the Clean and ...
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Showing 4706 to 4710 news of total 6871 |
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- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
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