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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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Monday, 28 January 13
BAYAN RESOURCES TO SELL 18 MILLION TONS OF COAL TO GNPOWER MARIVELES COAL PLANT
Publicly-listed PT Bayan Resources announced on Friday that it had signed an agreement on coal sales with Philippine-based GNPower Mariveles Coal Pl ...
Sunday, 27 January 13
CFR SOUTH CHINA COAL SWAPS: WEAK
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery has gained 0.31 percent and CFR South China coal shipment&nbs ...
Sunday, 27 January 13
FREIGHT MARKET: FLAT TO SOFT - VISTAAR
COALspot.com - The freight market was soft and all the indices were down except for handy size.
The BDI was down 4.66 pct closing at 798 points.. ...
Friday, 25 January 13
BOTSWANA GOVERNMENT GRANTS COAL LICENSES TO A-CAP RESOURCES LIMITED
A-Cap Resources Limited has announced that it has been granted coal rights within its Bolau tenements which sit next to the Sese Coal and Power Proj ...
Friday, 25 January 13
SMALL ROOM FOR OPTIMISM FOR THE PROSPECTS OF THE DRY BULK MARKET AS NET FLEET GROWTH IS SLOWING DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the dry bulk market didn't manage to post a rebound during the past year, quite the opposite, as a fast fleet growth and slow ...
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- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Aditya Birla Group - India
- White Energy Company Limited
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Planning Commission, India
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- The University of Queensland
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
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