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