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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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Thursday, 24 January 13
INDO - INDIA NOW AT APS $ 8K + BB USD 90000 - FEARNLEYS AS
Handy
The Atlantic market remains stable as supply of tonnage is still in excess of demand. USG- Far east fixed at $18k and CONT-FEAST at $ 11k. Pa ...
Thursday, 24 January 13
DRY BULK MARKET FALLS ON TROPICAL CYCLONE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been on the downside during the past couple of days, mainly as a result of the tropical storm which forced ports to close do ...
Tuesday, 22 January 13
PORT OF ANTWERP HANDLES 7.0 PERCENT MORE COAL IN 2012 Y-Y
COALspot.com - The port of Antwerp handled 184,134,516 tonnes of freight last year.
This represents a drop of 1.6% compared with 2011, when the v ...
Monday, 21 January 13
NEWCASTLE PORT SHIPPED 10.21 PERCENT LESS COAL W/E 21 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 2,804,152 MT of thermal and coking coal for week ended 0700 hours 21 January 2013, Newca ...
Monday, 21 January 13
PANAMAX DRY BULK CARRIERS AND AFRAMAX TANKERS PROVED TO BE THE "WEAPON OF CHOICE" FOR MOST SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With ship financing getting ever so difficult to procure during the past year or so, ship owners had to get creative in order to persuade banks and ...
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- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- PTC India Limited - India
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
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