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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, 12 February 13
GOVERNMENT DECLARED INDONESIAN THERMAL COAL PRICE INCHES UP IN FEBRUARY
COALspot.com - The Indonesian government has declared bench mark price for coal has moved upwards in February 2013.
The monthly coal refere ...
Monday, 11 February 13
NEWCASTLE PORT SHIPPED 23.01 PERCENT MORE COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,967,761 MT of thermal and coking coal for week ended 0700 hours 11 February 2013, Newc ...
Sunday, 10 February 13
INDONESIA SUB-BIT SWAPS: "UP" - CFR SOUTH CHINA SWAPS: "DOWN"
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 0.72 percent W-O-W and CFR South China coal shipme ...
Sunday, 10 February 13
DRY BULK OVERSUPPLY OF TONNAGE SEEN WANING IN THE COMING MONTHS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It seems that the tide could be shifting in the dry bulk market, in terms of tonnage oversupply, according to the latest data figures. This could ex ...
Sunday, 10 February 13
HIGHER BUNKER PRICE PUSHES SEA FREIGHTS FIRM - REDDY
COALspot.com - The freight market was soft and all at same levels with Chinese year holidays next week.
The BDI was slightly down by 0.27 pct ad ...
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- Romanian Commodities Exchange
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Minerals Council of Australia
- Planning Commission, India
- McConnell Dowell - Australia
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- VISA Power Limited - India
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- The University of Queensland
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
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