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