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