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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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Thursday, 10 January 13
DRY BULK PANAMAX MARKET HEAVILY OVERSUPPLIED, UNLIKELY TO FIND SUPPORT IN 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite positive indication for a significant surge of dry bulk demand this year, the oversupply problems of the market, will continue to weigh heav ...
Tuesday, 08 January 13
HOLIDAY ACTIVITY SCARCE IN THE MARKET OF SECOND HAND VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Although the market for second hand vessel purchasing was quite lull during the Holiday period, as is usually the case, the first days of the New Ye ...
Tuesday, 08 January 13
NEWCASTLE PORT SHIPPED 3.197 MILLION MT OF COAL W/E 7 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 3,197,580 MT of thermal and coking coal for week ended 0700 hours 7 January 2013, Newcas ...
Sunday, 06 January 13
CFR SOUTH CHINA COAL: 2014 DELIVERY CLOSED US$ 6.80 HIGHER THAN Q1 '13 PRICE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery has gained 0.37 percent WoW and CFR South China coal sh ...
Sunday, 06 January 13
COAL BOOM: WAKE-UP CALL FOR INDIA & INDONESIA! - SUNIL K KUMBHAT
COALspot.com - Coal Boom : Scenario, Now & later!
Coal has been the dominant fuel for power generating plants in developed countries since th ...
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- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- The University of Queensland
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
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