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Thursday, 03 January 13
DRY BULK DEMAND TO KEEP RISING IN 2013, DRY BULK SHIP PRICES TO KEEP FALLING SAYS ANALYST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 In a recent report on the future of the shipping markets, DVB bank said that dry bulk demand is expected to keep on growing in the coming years, mainly as a result of continued grwoth in emerging economies.According to the bank's analysis, dry bulk demand is expected to conclude 2012 with a rise of 4.1%, while the estimates for 2013 are looking for a further rise of 7.2%. Countries like India and China are expected to play a major role towards this development, with China's appetite for raw materials like iron ore and coal being among the main reasons for this. As a result of this codependence, should China's economy experience any slowdown, these projections of dry bulk demand growth will be impacted negatively.
In terms of ship values, DVB said that 2012 would close with average newbuilding prices posting a significant reduction over 2011 prices, while second hand values would post an even sharper decline. According to the analysis, vessels over 15 years old are the most vulnerable in terms of price reductions, since more and more newbuildings are entering the global fleet. Additionally, new regulations, like EEDI, will add to the pressure faced by older tonnage, as charterers will use these to bring down rates and consequently asset values, resulting in a two or even a multi-tiered market. As a result, the bank's analysts indicated that they don't expect the trend of falling newbuilding prices to end before 2014 kicks in, with huge oversupply still a dominating force in the dry bulk market.
As a result of the huge orderbook, freight rates are expected to remain under pressure throughout 2013. exactly how much will this pressure be, will depend on the way that the orderbook and deliveries progress during the year. In the worst case senario, rates could once again bottom out by the end of 2014, should the world economy be stabilised and avoid slipping into yet another period of recession. DVB advised shipowners to reduce contracting and increase scrapping activity, if they wish to keep earnings above operating expenses.
After all, the level of growth of the dry bulk fleet has been stellar, with record breaking newbuilding deliveries for every year since the start of 2009. According to the analysis, since October of 2011, the dry bulk fleet has increased by an impressive 75 million dwt or 758 vessels, representing a growth rate of 13%. Today, the orderbook stands at 130 million dwt, equating to about 20% of current fleet. "The orderbook for all Capesize vessels is large with the fleet relatively young having an average age about 7 years. Merely 3.5% of the Capesize fleet is over 25 years of age. The VLBC and ULBC fleets are expanding rapidly, mainly due to the Vale vessels being delivered. These vessels entering the fleet will undoubtedly have a huge negative impact on all Large Cape asset values as well as T/C rates and will impact earnings of other Sub-Sectors as well" said DVB in its report.
Meanwhile, the room for limiting supply through more scrapping activity has been steadily getting smaller and smaller. Scrapping was moderate in 2009 with 256 vessels equating to 10.9 million dwt scrapped, after negligible scrapping during 2007 and 2008. In 2010, scrapping slowed down again as the markets improved slightly. Only 121 vessels amounting to 5.3 million dwt were sold for demolition. Since the start of 2011, scrapping activity has picked up significantly, with 385 vessels totalling 23.3 million dwt were sent to the breakers. In 2012, a further 406 vessels of 25.9 million dwt had already been decommissioned and broken apart, a couple of months before the year ended, meaning that a new record had been set. While until 2010, scrapping was mainly concentrated in the Handysize Sub-Sector, scrapping has been more uniform across Sub-Sectors since 2011. "With market fundamentals remaining weak due to demand-supply imbalance, high rate of scrapping is required to offset the deliveries seen in the past four years as well as the current orderbook" DVB concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Sunday, 28 April 13
PANAMAX FREIGHT COULD BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - This BDI closed slightly lower at 871 points (down by 1.91 pct) mainly due to drop in the Panamax index by almost 10 pct.
Th ...
Saturday, 27 April 13
HANDY : SLIDING ; PANAMAX : POSITIVE ; CAPESIZE : STILL ON ITS KNEES - FEARNRESEARCH
Handy
The Atlantic markets started sliding with no fresh cargoes seen in the market. The USG-Feast was at USD 18k and Black sea-Feast was at USD 11 ...
Saturday, 27 April 13
2ND CHINA INTERNATIONAL SHALE GAS SUMMIT
Press Release - 2nd China International Shale Gas Summit, 10-13 September 2013 | Chengdu, China
*The largest annual event for the shale gas indus ...
Friday, 26 April 13
LIMA SUMMIT IN JULY TO HIGHLIGHT LATIN AMERICAN MINING POTENTIAL
COALspot.com - Latin American mining industry officials and their private sector counterparts will be gathering in Lima, Peru on July 1-2 for the La ...
Wednesday, 24 April 13
FUTURE US POWER MARKET SHARES OF COAL, NATURAL GAS GENERATORS DEPEND ON RELATIVE FUEL PRICES - EIA
COALspot.com - In recent years, in US, natural gas competed more effectively with coal as a fuel for electricity generation as the cost of operating ...
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- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
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