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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, 06 January 13
FREIGHT MARKET REMAINED FAIRLY STEADY - VISTAAR
WISH YOU ALL HAPPY NEW YEAR
COALspot.com - The freight market remained fairly steady in spite of Christmas / New Year Holidays. The BDI was almos ...
Saturday, 05 January 13
THE SHIPPING MARKET IN 2012 AND LOOKING FORWARD - BIMCO
Global Economy: Things will go up from here
The global economy continues to grow, albeit at a slower pace than previous years. The slower economic ...
Friday, 04 January 13
DRY BULK MARKET LOOKING FOR DIRECTION IN FIRST TRADING DAYS OF THE NEW YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market is actively looking for its footing at the start of the New Year, as charters have been scarce, as is usually the case during th ...
Thursday, 03 January 13
INDONESIAN SUB-BITUMINOUS COAL SWAPS CLOSED US$ 6.86 HIGHER FOR 2014 DELIVERY
COALspot.com - Swaps prices were changed positively for thermal coal for loading in the first quarter from Indonesia, according to SGX AsiaClear OTC ...
Thursday, 03 January 13
SUPRMAX FREIGHT RATE FROM RED SEA / INDIA IS AROUND MID TEENS - FEARNLEYS
Fearnleys in its weekly report said that, Indian market was very quiet in respect of export of iron ore. For Indo-India trip Supra rate was hovering ...
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- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- The University of Queensland
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- PTC India Limited - India
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