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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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Wednesday, 02 January 13
NEWCASTLE PORT SHIPPED 23.61 PERCENT MORE COAL W-W
COALspot.com - Newcastle port in Australia has loaded 3,533,183 MT of thermal and coking coal for week ended 0700 hours 31 December 2012, Newc ...
Wednesday, 02 January 13
DRY BULK MARKET TO STAY ELEVATED IN START OF 2013 BUT THE NEW YEAR WILL NOT BE WITHOUT TURBULENCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In its regular update on the dry bulk market, BIMCO forecasted, that Capesize time-charter rates are expected to stay elevated in the following six ...
Monday, 31 December 12
KOSEP IS LOOKING FOR 280K MT OF 4600 NCV COAL FOR APRIL - JUNE 2013
COALspot.com : South Korean state-owned utility Korea South-East Power Co., Ltd. (KOSEP), has issued an new tender for prompt supply of 280,00 ...
Monday, 31 December 12
VALE CELEBRATES ARRIVAL OF "VALE SOHAR" BULK CARRIER TO SULTANATE WITH MEMBERS OF COMMUNITY
'Vale Sohar', one of the largest bulk carriers in the world, was welcomed to Oman by members of the North Al Batinah community headed by H.E. Shei ...
Monday, 31 December 12
"DISTRESSED", "ECO" AND "FINANCE" ARE THE THREE WORDS WHICH CHARACTERIZED 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
2012 was yet another year of speculation, anticipation, pessimism and more speculation in the shipping markets. According to the latest weekly repor ...
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- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- MS Steel International - UAE
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Planning Commission, India
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
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