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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, 13 January 13
THE FREIGHT MARKET: FAIRLY STEADY - VISTAAR
COALspot.com - The freight market was fairly steady with all the indices up with maximum gain in the Panamax segment. The BDI was up by 7.65 pct clo ...
Saturday, 12 January 13
SUB-BIT FOB INDONESIA COAL SWAPS: WEAK
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery has lost 0.32 percent WoW but CFR South China coal ship ...
Saturday, 12 January 13
HIGHER COAL PRICES: SEASONAL EFFECT
COALspot.com : Bahana Securities, one of the leading securities in Indonesia, said in its latest coal outlook that, on US and China&rsquo ...
Friday, 11 January 13
HBA HAS JUMPED BY US$ 5.80 PMT IN JANUARY 2013
COALspot.com - The Indonesian government has declared bench mark price for coal higher than December price. The monthly coal reference price f ...
Thursday, 10 January 13
PANAMAX : SOME GLIMMERS OF HOPE MID WEEK - FEARNLEYS
According to Fearnley’s weekly report, the Atlantic handy market is stable with rates around USD 11k for Cont-Feast and USD 17k bss USG/Feast. ...
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- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Aditya Birla Group - India
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
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