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Friday, 15 February 13
SCRAPPING TO RISE AS BULKER OWNERS SUFFER - DREWRY MARITIME RESEARCH
Drewry's latest Dry Bulk Forecaster report suggests that cash-strapped shipowners will scrap younger and younger ships this year as the dry bulk market wallows in the doldrums. A ship as young as 15 years has already been sold for scrap in recent months, and the average scrapping age of Chinese-built Capesizes was 21 years in 2012. Drewry does not expect any improvement in the freight market in 2013 and foresees a growing number of dry bulk shipping companies getting into financial difficulty. Demolitions in 2013 are expected to be above 36 million dwt, more than what was seen in 2012, and the average scrapping age will fall even further as middle-aged vessels struggle to find employment.
The average scrapping age of the smallest segment, Handysize, will fall below the 30-year mark in 2013, having dropped from 32.4 to 30.1 years last year. This sector lost a bigger proportion of its fleet to the scrapper’s torch in 2012, driven by increasing obsolescence as ports expand. Similarly, demolitions in the Panamax segment were also relatively high, given its older age profile and the increasing popularity of the larger and younger post-Panamax design.
Demolition reached record levels in 2012 as freight rates slumped to their lowest level for a quarter of a century. Preliminary data suggests that as much as 32.7 million dwt of dry bulk tonnage was sold for demolition, with the fourth quarter amounting to 6.8 million dwt: more than double what it was in the last quarter of 2011. Nearly 11 million tonnes of Capesize tonnage was sent for scrap, which was more than the all the dry bulk tonnage scrapped in 2009.
But even this frantic level of scrapping will not push freight rates up because the dry bulk fleet is growing even faster. It added 35 million dwt last year to reach 679 million dwt (9,490 vessels), which was a 12.3% expansion, following 15.2% in 2011. While ‘only’ 28 million dwt is due for delivery this year, two-thirds of that increase will come in the post-Panamax and VLOC segments. These fleets are already very young, so there is very little chance that scrapping will ease the pressure on freight rates.
Source: Drewry Maritime Research / Hellenic Shipping
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Friday, 15 February 13
2ND ANNUAL INDONESIA MINING 2013 CONFERENCE
Bringing Indonesia's Mining Stakeholders Together Towards Improving Mining Investment Climate & Operations
Following the success of th ...
Thursday, 14 February 13
HANDY: ATLANTIC "STABLE"; PACIFIC "QUIET" - FEARNLEYS
Handy
The Atlantic remain stable with rates for FH from USG around USD 18k. The Pacific remains quiet due to Chinese New Year holidays. Rates were ...
Thursday, 14 February 13
BIMCO FORECASTS MOSTLY HIGHER DRY BULK RATES FOR THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Higher steel demand is expected to keep dry bulk rates elevated during the next six weeks, according to the latest BIMCO forecast. The Organization ...
Wednesday, 13 February 13
6TH ANNUAL CBM CONFERENCE
The 6th Annual CBM conference which will be held in Singapore on 18-21 June 201 offers comprehensive insights into leading CBM projects in the Asia- ...
Tuesday, 12 February 13
GOVERNMENT DECLARED INDONESIAN THERMAL COAL PRICE INCHES UP IN FEBRUARY
COALspot.com - The Indonesian government has declared bench mark price for coal has moved upwards in February 2013.
The monthly coal refere ...
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- White Energy Company Limited
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- Minerals Council of Australia
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- The Treasury - Australian Government
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- Kartika Selabumi Mining - Indonesia
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- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
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- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
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- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
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- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
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- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
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- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
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- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- The University of Queensland
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- Electricity Generating Authority of Thailand
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- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
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- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
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- PNOC Exploration Corporation - Philippines
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- Eastern Coal Council - USA
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- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
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