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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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Thursday, 29 November 12
BUMI TO PRODUCE 100 MILLION TONS OF COAL BY 2014
COALspot.com - Expansions on both BUMI’ s subsidiaries, PT Kaltim Prima Coal (KPC) and PT Arutmin Indonesia ( Arutmin) , are ...
Thursday, 29 November 12
PANAMAX : A FAIRLY STEADY MARKET WITH USD 8.5-9K/DAY FOR 2 LADEN LEGS IN ATLANTIC - FEARNLEYS
Handy
The Atlantic market continues to remain quiet due to more supply of ships. Rates from USG to Far East were around USD 18k and Black Sea to Fa ...
Thursday, 29 November 12
DRY BULK MARKET SLIGHTLY HIGHER DESPITE LULL ACTIVITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market was marginally higher yesterday, according to the industry's benchmark, the Baltic Dry Index (BDI), which rose by 7 points to 1 ...
Wednesday, 28 November 12
NEWBUILDING ORDERING PICKS UP AS SHIP OWNERS LOOK TO CLOSE DEALS BEFORE THE END OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners are active once again in the newbuilding ordering market, as they look to clinch deals ahead of the end of the year. Once again their fo ...
Tuesday, 27 November 12
NEWCASTLE PORT HAS SHIPPED 1.79 MILLION TONS OF COAL W/E 26 NOVEMBER
COALspot.com - Newcastle port in Australia has loaded 1,793,841 MT of thermal and coking coal for week ended 0700 hours 26 November 2012, Newc ...
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- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- PTC India Limited - India
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- The University of Queensland
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
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