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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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Friday, 01 February 13
HANDY - FLAT; PANAMAX - FLAT TO WEAK; CAPESIZE - WEAK
Handy
The Atlantic market remained stable with no significant movement in rates. Rates from USG to FEast were around USD 17k and Black sea to Feast ...
Thursday, 31 January 13
DRY BULK RATES ON A FALLING PATTERN DUE TO ADVERSE WEATHER CONDITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The seasonal factor has emerged as the latest catalyst in determining the course of the dry bulk market, as the floods in eastern Australia, the big ...
Thursday, 31 January 13
NEWCASTLE PORT SHIPPED 2.70 MMT OF COAL W/E 28 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 2,703,921 MT of thermal and coking coal for week ended 0700 hours 28 January 2013, Newca ...
Thursday, 31 January 13
MMTC TO IMPORT 2.68 MMT OF COAL FOR ARAVALI POWER CORPORATION LTD
COALspot.com: The tender floated by MMTC on behalf of Aravali Power Corporation Ltd, a Joint venture between NTPC and State of Haryana for supply of ...
Wednesday, 30 January 13
TNPL TO SECURE 300K MT OF IMPORTED COAL SUPPLIES AT US$ 75.95 PMT FOR MARCH - AUGUST 2013 DELIVERY
COALspot.com – Chennai based Coastal Energy Private Limited (C&O Group of companies) offered lowest price of US$ 75.95 per met ...
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- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
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- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
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- The University of Queensland
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- Directorate Of Revenue Intelligence - India
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- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Aditya Birla Group - India
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- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
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