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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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Monday, 17 December 12
SHIP PRICES TO BOTTOM OUT IN 2013 SAYS GEORGE D. GOURDOMICHALIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship values especially in older tonnage, or even modern vessels with poor quality are expected to fall further during 2013, with the market as a who ...
Monday, 17 December 12
SYNERGISING WITH PIONEERS TO DEVELOP TOMORROW'S LATIN AMERICAN RAILWAYS
Press Release: Brazil being one of the largest country in South America has one of the most dynamic rail markets in the world. Rail transport in Bra ...
Sunday, 16 December 12
FREIGHT TREND SOFTENED THIS WEEK - VISTAAR
COALspot.com - The freight market further softened this week and closed at 784 points (down by 18.84 pct). The cape index had the biggest fall ...
Friday, 14 December 12
GMR GROUP OF INDIA TO IMPORT 100K MT OF 4800 GAR COAL
COALspot.com: GMR Group of India to invite bids for 100,000 Metric Tons of imported non coking coal to be delivered during January and February 2013 ...
Thursday, 13 December 12
HANDY : WCI-CHINA RATES AROUND $ 6000 AND ECI-CHINA AROUND $ 4000 - FEARNLEYS
Handy
Atlantic market remained unchanged. Rates from USG to Feast were around USD 18k and Black Sea to Feast about USD 10k. USG-Skaw-Passero rates ...
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- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- The University of Queensland
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Latin American Coal - Colombia
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
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