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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, 21 February 13
SPRING COAL PROCUREMENT 2013 IS ABOUT TO TAKE PLACE
In 2012, “Steady Growth” had set the keynote for China’s economic development. Guided by the principle of progressing steadily, do ...
Wednesday, 20 February 13
BAKRIE GROUP LOOKS TO HAVE A CLEAR UPPER HAND - LUCKY ARIESANDI, CFA
The Bakrie-Rothschild saga is entering its final stage, with Bumi Plc (BUMI LN)’s holders to convene on 21 Feb at 11am GMT to vote on Nat Roth ...
Tuesday, 19 February 13
NEWCASTLE PORT SHIPPED 38.65 PERCENT LESS COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 1,820,559 MT of thermal and coking coal for week ended 0700 hours 18 February 2013, Newc ...
Monday, 18 February 13
78.75 MILLION TONS OF COAL RESERVES ARE NEWLY PROVEN IN WUGANG HUNAN PROVINCE
COALspot.com - Recently, Wugang City, known as the CHINA hundred key coal producing cities, achieved new breakthroughs in coal exploration: deep coa ...
Sunday, 17 February 13
STEEL DEMAND WILL HELP TO PUSH UP FREIGHT RATES - VISTAAR
COALspot.com - This freight market has been fairly steady week ended 15 February 2013.
The BDI was slightly up by 0.67 pct closing at 753 points ...
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- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
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- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
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