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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, 31 March 13
COAL FREIGHTS ARE IN FLAT TO WEAK TREND - VISTAAR
COALspot.com - This freight market after several weeks of firming up seemed to lose steam and this week all the indices were down except for handy s ...
Friday, 29 March 13
SUB-BIT INDONESIA COAL SWAPS: UP 0.55 % WOW; CFR SOUTH CHINA COAL CONTRACT: UP 0.23 % WOW
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 0.55 percent and CFR South China coal shipment&nbs ...
Thursday, 28 March 13
SHIP OWNERS KEEN ON ACQUIRING SECOND HAND TONNAGE, AS WELL AS NEW BUILDINGS IN CONVENTIONAL SEGMENTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The recent rally of the Baltic Dry Index (BDI), coupled with renewed optimism, at least in some parts of the wet market, have prompted many ship own ...
Wednesday, 27 March 13
PTBA HAS CONCLUDED US$ 16.14 BILLION WORTH OF COAL SALES AND PURCHASE AGREEMENT WITH PLN
COALspot.com - PT. Bukit Asam, a 32 years old Indonesian state owned coal miner has signed a coal sales and purchase agreement with PT PLN, (a state ...
Wednesday, 27 March 13
SHIPPING CONFIDENCE REACHES HIGHEST LEVEL FOR TWO YEARS - MOORE STEPHENS
Overall confidence levels in the shipping industry recovered to their highest level for two years in the three months ended February 2013, according ...
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- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Cement Manufacturers Association - India
- Minerals Council of Australia
- CNBM International Corporation - China
- MS Steel International - UAE
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
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