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