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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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Friday, 05 April 13
SGX API 8 CFR SOUTH CHINA COAL SWAPS TO GO LIVE
COALspot.com - The Exchange has announced that the SGX API 8 CFR South China Coal Swap will go live for clearing on SGX-DC starting from 29 Ap ...
Thursday, 04 April 13
HANDY:QUIET ; PANAMAX: SLOW START; CAPESIZE: LOW ACTIVITIES - FEARNRESEARCH
Handy
The Atlantic markets remain quiet as charterers and owners waiting to see how it moves. The USG-Feast was at USD 20k and Black Sea-Feast was ...
Wednesday, 03 April 13
HBA HAS LOST US$ 1.53 PER MT IN APRIL 2013
COALspot.com - The Indonesian government’s declared coal bench mark price has lost $1.53 / MT in April 2013.
The monthly coal referen ...
Tuesday, 02 April 13
AUSTRALIA'S NEWCASTLE PORT SHIPPED 633K MT MORE COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 3,029,482 tons of thermal and coking coal for week ended 0700 hours 1 April 2013, Newcas ...
Tuesday, 02 April 13
THE GOVERNORS TO TAKE OVER AUTHORITY OF MINING, FORESTRY AND PLANTATION CONCESSIONS
The Indonesian government is planning to transfer the authority of issuing mining, forestry and plantation concessions from municipalities and distr ...
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- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
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