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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, 11 March 13
SUB-BIT FOB INDONESIA COAL SWAPS FELL 1.41 PERCENT W-W
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 1.41percent and CFR South China coal shipment ...
Sunday, 10 March 13
INDIA - INDONESIA SUPRAMAX FREIGHT : FIRM TREND
COALspot.com – This week freight market was raised and remained firm in all segments.
The BDI was up by 6.70 pct closed at 843 points, ...
Sunday, 10 March 13
INDONESIA'S FORESTRY DEPARTMENT IS TO INCREASE BORROW-TO-USE PERMITS (IJIN PINJAM PAKAI) FEE SOON
COALspot.com : Indonesia to increase borrows-to-use permit fees by 33.33 percent. The government of Indonesia is planning to increase the state&rsqu ...
Friday, 08 March 13
EKO SANTOSO BUDIANTO APPOINTED AS PRESDIENT DIRECTOR OF BERAU COAL ENERGY
COALspot.com - PT Berau Coal Energy has appointed Eko Santoso Budianto as new president director, replacing Rosan Roeslani. Berau’s extraordin ...
Friday, 08 March 13
INDONESIAN HBA UP FOR FIVE CONSECUTIVE MONTHS
COALspot.com - The Indonesian government has declared bench mark price for coal has moved upwards in March 2013.
The monthly coal reference ...
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- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- The University of Queensland
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Petron Corporation, Philippines
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
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