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Monday, 02 July 12
DRY BULK DEMAND TO RISE TO 3.6 BILLION TONNES IN 2012, BUT NEW BUILDING DELIVERIES ARE
 In its latest analysis on the dry bulk market fundamentals, DVB Bank said that dry bulk cargo demand is forecast to rise to approximately 3.6 billion tonnes in 2012, but it just isn't enough to help offset the magnitude of the newbuilding orderbook and the pace of ship deliveries. In its research, DVB mentioned that so far this year (the fourth year of record breaking newbuilding deliveries) a total of 529 vessels, representing 44.4 million dwt have already been delivered. Another 1,148 vessels of 93.5 million dwt are scheduled for delivery until the end of 2012. This is about 58% of the current orderbook, which stands at 2,001 vessels of 161.3 million dwt, which in turns represents about 25.8% of the current fleet.
As a result, asset values as well as earnings are not expected to recover anytime soon. DVB stated that "we may see the markets bottom by the end of 2013 and remain flat thereafter. However, this is subject to owners not indulging in more newbuilding contracting if they see a seasonal spike in freight rates".
According to the research report, the fleet of dry bulk carriers now stands at 9,251 vessels with a total carrying capacity of 625.5 million dwt. The average age of the fleet is about 11 years and 61.8% of the fleet is less than 10 years of age. In addition, the average age of vessels less than 10 years of age is merely 3.1 years – an extremely young fleet. In dwt terms, Large Capes constitute the largest portion of current fleet while Panamax size vessels have the largest orderbook. The ULBC size range (280K+ dwt) is expanding rapidly and mainly consists of the 400k+ Vale vessels. Thus far, 11 of these behemoths have delivered. In its report, DVB mentioned that "these massive 400K+ dwt vessels will have a negative impact on asset values as well as freight rates not only for this Sub-Sector but for all smaller Sub-Sectors (VLBC, Large Capes and Small Capes) as well. Each of these Valemax vessels can replace about 2.3 three Large Capes from the market, all other things being equal" it mentioned.
In terms of slippage, in 2011 it was calculated by us at about 38%. Even with 40% delays, DVB expects to see more than 1,200 vessels added to the fleet this year. It justifies the oversupply issues by the fact with more than 2,000 different dry bulk ship owners, different strategies and circumstances exist, whether they are commercial or financial. Still, in any case 2010 saw the contracting of 1,259 vessels of 95 million dwt, while 2011 (when one would expect owners to refrain from more orders) saw the contracting of an additional 523 vessels of 38 million dwt, despite oversupply pressures already evident. Fortunately the pace of newbuilding ordering activity has contracted severely so far this year, as orders have been placed for only 68 vessels of 5 million dwt.
Much is to be decided in the demolition stage. Unfortunately, despite the record breaking numbers of tonnage removed from the market during 2011, it still represented just 3.7% of the existing fleet, according to DVB, when in 1986, which was the last peak scrapping year, demolitions represented 7% of the fleet. At the same time, in 2011 for every vessel scrapped, three new ones were added to the fleet as newbuildings. As a result for the market to balance, scrapping activity needs to at least triple from current numbers. DVB urges ship owners to scrap even if prices offered from scrapyards are lower. It said that "owners who cannot realistically survive another couple of years of low freights need to realise this and rise up to the challenge and scrap".
It added that after the negligible scrapping rates of 2007 and 2008, when the market was at its highest, 2009 saw the scrapping of 10.9 million dwt of dry bulk carriers (256 vessels were demolished). Unfortunately, the market's recovery in 2010 saw, once again, a decline in scrapping activity with just 5.3 million dwt of vessels scrapped (121 ships). Finally, in 2011 a total of 379 vessels were scrapped, removing a total of 23.2 million dwt. It was the biggest scrapping year since 1964, but again it wasn't enough for the market to balance, as an additional 97 million dwt of newbuildings were delivered. So far, during the first five months of 2012 a total of 225 vessels of 13.8 million dwt have been scrapped, which means that this year could be yet another record breaker, but it still isn't enough.
Source: Nikos Roussanoglou, Hellenic Shipping
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Sunday, 30 August 20
PANAMAX - THIS WEEK THE DEMAND HAS PICKED UP, BUT THE TONNAGE LIST IS INCREASING DAY BY DAY - FEARNLEYS
Cape Size
More or less flat from previous week, with cape rates moving from US$ 19,500 to 18,900 on average. West Australia however being more ...
Saturday, 29 August 20
COAL INDIA'S FUEL SUPPLY TO POWER SECTOR DROPS ABOUT 20% IN APR-JUL: PTI
State-owned Coal India”s fuel supply to the power sector registered a decline of 19.5 per cent to 126.30 million tonnes (MT) in the April-Jul ...
Saturday, 29 August 20
SOUTH KOREAN BROKERAGE FIRM KOREA INVESTMENT & SECURITIES TO STOP ALL COAL BUSINESS - KOREA HERALD
South Korean brokerage firm Korea Investment & Securities has decided to stop its investments in coal, in line with the Moon Jae-in administrat ...
Thursday, 27 August 20
KOREAN GENCOS INVITED BIDS FOR TOTAL 985,000 TONS OF BITUMINOUS COAL FOR NOVEMBER 2020 LOADING
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) on behalf of EWP, KOSPO, KOSEP and KOWEPO has issued an international tender for total 985,000 ...
Thursday, 27 August 20
SOUTHEAST ASIAN NATIONS SET REGION-WIDE RENEWABLE ENERGY GOAL OF 23 PERCENT BY 2025 - ASEAN POST
The Association of Southeast Asian Nations (ASEAN) has set an ambitious target of securing 23 percent of its primary energy from renewable so ...
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Showing 806 to 810 news of total 6871 |
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- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Australian Coal Association
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Economic Council, Georgia
- India Bulls Power Limited - India
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