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