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