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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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Tuesday, 23 April 13
INDONESIAN STATE OWNED COAL MINER SHIPPED 4 PERCENT MORE COAL IN 1Q
COALspot.com - PT. Bukit Asam, the Indonesian state owned coal miner shipped more coal in first quarter of this year compared to the same period in ...
Tuesday, 23 April 13
REALM CONTINUES AS 51% OWNER AND MANAGER OF THE KATINGAN RIA THERMAL COAL PROJECT
COALspot.com - Realm Resources Ltd. (ASX: RRP) has announced today that, the commercial way forward for the development of its 51% held Indonesian t ...
Tuesday, 23 April 13
TIGERS REALM COAL HAS SOME OF THE WORLD'S BEST UNDEVELOPED COKING COAL ASSETS - EXECUTIVE CHAIRMAN
COALspot.com - “ During 2012, your Company has made very significant progress towards meeting its stated objective of becoming a global player ...
Tuesday, 23 April 13
AUSTRALIA'S NEWCASTLE PORT COAL SHIPMENTS DROPPED BY 4.38 PERCENT W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,434,336 tons of thermal and coking coal for week ended 0700 hours 22 April 2013, Newca ...
Sunday, 21 April 13
INDONESIA - INDIA COAL FREIGHT RATES ARE FIRMING UP - CAPT. REDDY
COALspot.com – The BDI was up by 1.40 pct closed at 888 points week ended 19 April 2013. The Cape index was down by 2.45 pct closing at 1234 p ...
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- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- MS Steel International - UAE
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
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