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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, 05 February 13
NEWCASTLE PORT COAL SHIPMENTS DROPPED BY 10.77 PERCENT W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,412,497 MT of thermal and coking coal for week ended 0700 hours 4 February 2013, Newca ...
Tuesday, 05 February 13
CHALLENGER DEEP RESOURCES CORP HAS ENTERED INTO AN EXCLUSIVE MINING AND MARKETING AGREEMENT WITH KEM
COALspot.com - Challenger Deep Resources Corp., through its wholly owned subsidiary, PT Bestindo Energy, has entered into an Exclusivity Agreement r ...
Saturday, 02 February 13
ADARO TO INTRODUCE A NEW BRAND OF ENVIROCOAL, E4700, IN 2013
COALspot.com - Adaro Energy, an Indonesian and leading coal producer in country has achieved a record coal production during 4Q12 of 13.31 mil ...
Saturday, 02 February 13
FREIGHT MARKET MAY REBOUND AFTER CHINESE NEW YEAR - VISTAAR
COALspot.com - The freight market was soft and all the indices were down by around 5-7 pct this week.
The BDI was down 6.01 pct closing at 750 po ...
Friday, 01 February 13
ORPHEUS SELLS B26 COAL PROJECTS FOR US$ 2 MILLION TO FOCUS ON SOUTH KALIMANTAN
COALspot.com - Orpheus Energy Limited (ASX: OEG) has announced that it has sold its 51 percent equity stake in the East Kalimantan coal projects, Bl ...
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- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Australian Coal Association
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
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