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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, 28 February 13
INDIA HAS INCREASED CUSTOMS DUTY AND COUNTERVAILING DUTY FOR POWER PLANT COAL
COALspot.com : The government of India raised basic customs duty and countervailing duty on steam coal. In the meantime government has reduced& ...
Thursday, 28 February 13
SHIP OWNERS EXPECTED TO FACE A CHALLENGING YEAR, DESPITE THE FALL OF NEWBUILDING ORDERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Tonnage oversupply and a lagging growth in world trade demand are expected to keep shipping in the "red", despite a series of measures ado ...
Thursday, 28 February 13
PANAMAX : MARKET HAS SEEN A GOOD UPTURN OVER THE LAST WEEK - FEARNLEYS
Handy
The Atlantic saw more cargoes than last week and rates ticking upwards. The USG-Feast was at USD 19k and Black Sea-Feast was at USD 11k. The ...
Wednesday, 27 February 13
NEWCASTLE PORT IN AUSTRALIA SHIPPED 0.358 MILLION MT MORE COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,178,869 MT of thermal and coking coal for week ended 0700 hours 25 February 2013, Newc ...
Wednesday, 27 February 13
NEWLEAD HOLDINGS LTD. ANNOUNCES COAL SUPPLY AND DELIVERY CONTRACT
NewLead Holdings Ltd. yesterday announced that the Company has signed an agreement to supply and deliver 1.48 million metric tons of steam coal to a ...
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- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- India Bulls Power Limited - India
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Planning Commission, India
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
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