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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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- Maheswari Brothers Coal Limited - India
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- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
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- Global Business Power Corporation, Philippines
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- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
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- Directorate General of MIneral and Coal - Indonesia
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- Goldman Sachs - Singapore
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- SMC Global Power, Philippines
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- Renaissance Capital - South Africa
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- Africa Commodities Group - South Africa
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- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
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- Kohat Cement Company Ltd. - Pakistan
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- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
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- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
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- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
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- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
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- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
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- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
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- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
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- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
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- Timah Investasi Mineral - Indoneisa
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- Bukit Makmur.PT - Indonesia
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- Heidelberg Cement - Germany
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- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
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- ICICI Bank Limited - India
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