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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, 22 December 12
DELTA DUNIA MAKMUR PRODUCED 3.2 MILLION TONS OF COAL IN NOVEMBER' 12
COALspot.com - PT Delta Dunia Makmur Tbk., has removed 28.1 million bcm* (+1.8% YoY) of Overburden in November 2012 while coal production was at 3.2 ...
Friday, 21 December 12
JORC CODE, 2012 EDITION NOW FINALIZED
COALspot.com - The JORC Committee has announced that, the completion of the review of the JORC Code of 2012 Edition.
The JORC Code, 2012 Ed ...
Thursday, 20 December 12
COAL CLOSING IN ON OIL AS WORLD'S TOP ENERGY SOURCE BY 2017
COALspot.com - Coal’s share of the global energy mix continues to rise, and by 2017 coal will come close to surpassing oil as the world’ ...
Thursday, 20 December 12
CHINA'S IRON ORE AND COAL DEMAND WILL SHAPE THE CAPESIZE DRY BULK TRADE DURING 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the best efforts from ship owners to help alleviate the current tonnage oversupply issue in the dry bulk segment, especially in the larger v ...
Tuesday, 18 December 12
NEWCASTLE PORT IN AUSTRALIA SHIPPED 20.19 PERCENT MORE COAL W/E 17 DECEMBER 2012
COALspot.com - Newcastle port in Australia has loaded 3,269,640 MT of thermal and coking coal for week ended 0700 hours 17 December 2012, Newc ...
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- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
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