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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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- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- White Energy Company Limited
- Agrawal Coal Company - India
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Planning Commission, India
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- VISA Power Limited - India
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Australian Coal Association
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
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