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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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Sunday, 20 January 13
Q1 & Q4 SUB-BIT FOB INDONESIA COAL SWAPS: FIRM
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) and CFR South China coal shipment for average Q1’ 2013 delivery have gained 0.81percent and ...
Sunday, 20 January 13
S7 & S8 ROUTE FREIGHT TREND IS EXPECTED TO BE FLAT TO SOFT THIS WEEK - VISTAAR
COALspot.com - The freight market was fairly steady with all the indices BDI up by 9.21 pct closing at 837 points. The Cape index was also sharply u ...
Friday, 18 January 13
NEWLEAD HOLDINGS LTD. TO ACQUIRE TWO COAL PROPERTIES WITH ESTIMATED COAL RESERVES OF 18.6 MMT & 143.1 MMT
NewLead Holdings Ltd. Announces Signing Agreement to Acquire Properties with Estimated Coal Reserves of 18.6 Million Tons; Signing Agreement to Acqu ...
Friday, 18 January 13
DRY BULK MARKET ON THE RISE, ON STRONG DEMAND FOR CAPESIZE VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has continued its climbing trend yesterday, as the industry's benchmark, the Baltic Dry Index (BDI) was up by 39 points to 820. ...
Friday, 18 January 13
CAPESIZE : SIGNALS ARE MIXED BUT THE OVERALL TENDENCY IS POSITIVE - FEARNLEYS
Handy
The Atlantic market remained stable with USG-Feast fixed around USD 17k, according to fearnleys’s weekly report.
Continent / Medite ...
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- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Australian Coal Association
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
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