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