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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, 26 March 13
NEWCASTLE PORT SHIPPED 2.39 MMT OF COAL W/E 25 MARCH 2013
COALspot.com - Newcastle port in Australia has loaded 2.396 million tons of thermal and coking coal for week ended 0700 hours 25 March 2013, N ...
Monday, 25 March 13
BUNKER FUELS ARE ABOUT TO GET CLEANER, BUT AT WHAT COST? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The cost of bunkers is nowadays the driving force behind most ship owners' major decisions, with regulations bound to change in many parts of the w ...
Sunday, 24 March 13
THE SUB-BIT INDONESIA'S COAL SWAPS FOR Q2 DELIVERY PRICE LOST 7.47 PERCENT PMT M-O-M
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 3.39 percent and CFR South China coal shipment 2.65 ...
Sunday, 24 March 13
FREIGHT MARKETS CONTINUED TO FIRM - VISTAAR
COALspot.com - This freight market continued to remain firm in all segments except for cape index which softened slightly.
The BDI was up by 4.60 ...
Sunday, 24 March 13
DRY BULK MARKET PROSPECTS OFFER ROOM FOR RESTRAINED OPTIMISM SAYS SHIP OWNER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In its announcement regarding its annual performance, ship owner Frontline offered some useful insight on the future prospects of both the dry bulk ...
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- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- PTC India Limited - India
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- White Energy Company Limited
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- The University of Queensland
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
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