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