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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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Tuesday, 15 January 13
GRANT SMITH APPOINTED GROUP MANAGING DIRECTOR OF BRAEMAR ADJUSTING
The Board of Braemar Adjusting is delighted to announce the appointment of Grant Smith as Group Managing Director of the company with immediate effe ...
Tuesday, 15 January 13
2ND MYANMAR MINING SUMMIT & OFFICIAL HOST MINISTRY OF MINES TO WELCOME OVER 200 DELEGATES NEXT WEEK
Press Release: The Ministry of Mines is hosting the 2nd Myanmar Mining Summit in Yangon on 21-24 January to unravel the local mining climate, prospe ...
Monday, 14 January 13
NEWCASTLE PORT SHIPPED 2.32 PERCENT LESS COAL W/E 14 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 3,123,312 MT of thermal and coking coal for week ended 0700 hours 14 January 2013, Newca ...
Monday, 14 January 13
THE COAL MONGOLIA - 2013 OFFICIALLY IN COOPERATION WITH TOP MINING COMPANIES
Press Release: Mongolian first mining portal site Mining.mn has already started its preparation of the International Conference “COAL MONGOLIA ...
Monday, 14 January 13
NTPC INVITES BIDS FOR 500K MT OF IMPORTED COAL
COALspot.com - NTPC Limited (formerly National Thermal Power Corporation) is the largest Indian state-owned electric utilities company called for a ...
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- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Planning Commission, India
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- The University of Queensland
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
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