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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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Thursday, 14 March 13
DRY BULK MARKET KEEPS ON RISING MOMENTUM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has maintained its rising momentum, on the back of increased cargo availability. According to yesterday's figures, the industry ...
Thursday, 14 March 13
SHIPPERS AND CARRIERS NEED GREATER COMMUNICATION AND MUTUAL UNDERSTANDING
Press Release – Shippers and shipping lines both need to raise their game if global container supply chains are not to be habitually subject t ...
Wednesday, 13 March 13
NEWBUILDING PRICES EXHIBIT NO FALL IN PAST SIX MONTHS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the fact that oversupply has been the key plague of the shipping markets in recent years and newbuilding ordering activity has receded subst ...
Tuesday, 12 March 13
COAL MINING PRIVATIZATION IN INDIA: MUST - SUNIL K KUMBHAT
COALspot.com - India has the one of the richest coal reserves in the world and the country should have shown significant progress and gained the pos ...
Tuesday, 12 March 13
NEWCASTLE PORT SHIPPED 2.47 MILLION TONS OF COAL W/E 11 MARCH 2013
COALspot.com - Newcastle port in Australia has loaded 2,471,080 MT of thermal and coking coal for week ended 0700 hours 11 March 2013, Newcast ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Minerals Council of Australia
- Planning Commission, India
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- PTC India Limited - India
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
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