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