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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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Saturday, 29 December 12
SHIPBREAKING YARDS IN INDIA DEMOLISH A TOTAL OF 527 VESSELS IN 2012, BREAKING ALL PREVIOUS RECORDS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
India's ship demolition experts of Star Matrix contemplated this week on the issue of why ships in the range of 1,000 and up to 6,500 liquid tons ( ...
Thursday, 27 December 12
A LOOK AT WORLD TRADE PATTERNS DURING 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
While China's leaders are likely to stick with the 2012 economic growth rate of 7.5% when they chart a course for 2013 - its weakest pace since 199 ...
Thursday, 27 December 12
INDONESIA SHIPPED 33.578* MMT COAL IN NOVEMBER
COALspot.com: Indonesia, the world largest multi grade coal exporter has shipped 33.578* million tons of coal in November 2012. thi ...
Wednesday, 26 December 12
UPDATE ON EXPORT BAN ON RAW MINERALS AND ORE - RITA SUSANTO
COALspot.com - In May 2012, the Minister of Energy and Mineral Resources (“MoEMR”) in Regulation No.7 (“Reg-7”, amended by R ...
Wednesday, 26 December 12
SHIP OWNERS WRAP UP NEWBUILDING DEALS PRIOR TO YEAR END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the year inches closer and closer to its end, many ship owners are looking to close deals for newbuilding vessels they have been negotiating duri ...
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- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
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