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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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Monday, 15 April 13
SUB - BIT INDONESIA COAL SWAP SHOWS POSITIVE TREND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 2.70 percent and CFR South China coal shipment&nbs ...
Saturday, 13 April 13
THE FREIGHT MARKETS EXPECTED TO HOLD FIRM NEXT WEEK - CAPT. REDDY
COALspot.com - This freight market firmed up this week and all sectors were up except for Supramax index.
The BDI was up by 1.62 pct closing at 8 ...
Friday, 12 April 13
DRY BULK SHIP OWNERS DEVELOPED NEWFOUND APPETITE FOR BULKERS DURING FIRST QUARTER OF 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's official; more and more ship owners operating in the dry bulk market appear to have developed a newfound optimism in the market's prospects. ...
Thursday, 11 April 13
HANDY: INDO - INDIA NOW BEEN REPORTED AT APS BASIS AT USD 10K+BB 85K - FEARNLEYS
Handy
The Atlantic markets remain with not many cargoes seen this week. The USG-Feast was at USD 18k and Black Sea-Feast was at USD 12k. The Pacifi ...
Thursday, 11 April 13
AUSTRALIA'S NEWCASTLE PORT SHIPPED 15.96 PERCENT LESS COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,545,914 tons of thermal and coking coal for week ended 0700 hours 8 April 2013, Newcas ...
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- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- White Energy Company Limited
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Planning Commission, India
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- London Commodity Brokers - England
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
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