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Thursday, 29 December 11
NEW VESSELS DELIVERED ARE FLOODING THE OCEANS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 As expected 2011 has been the year that newbuilding deliveries peaked and kept "flooding" the market, thus supressing freight rates and eroding any chance of recovery for the shipping sector. In its latest weekly report, shipbroker Intermodal said that in the dry bulk sector "we witnessed a formidable fleet growth level this year as the excess in new orders placed over the past couple of years entered into service. At the time of writing new deliveries had reached 1,094 vessels (equivalent to 94.65 million DWT) which is a new record passing the previous set in 2010 by 174 vessels. At the same time scrapping was also excessive, as we saw 388 vessels head for the breakers’ yards during the year. This is significantly higher than the 262 bulkers scrapped last year, while in deadweight terms it’s more than double what we saw in 2009 and 2010 put together. Despite this, year-on-year fleet growth managed to reach around 12%" said Intermodal.
Similarly in the tanker sector, as Intermodal’s George Eliades mentioned, “things seemed more manageable, as we witnessed a more moderate growth rate this year which is set to reach close to 4%. Having said that however, it is important to note that most of the vessels scrapped were smaller tankers, while in terms of deliveries we witnessed 63 VLCCs hit the water. This averages to just over 5 vessels every month. Being a sector which has already been plagued by an oversupply of vessels, this increase in tonnage, consequently put further downward pressure on the market. Indication of this was not only witnessed in the freight market but was also seen in the demolition market these past months were we saw relatively young double hull VLCCs head for the breakers’ yards” said Eliades.
In a separate report last week, DVB Bank had said that the crude oil tanker fleet, despite the number of mass deliveries, the current orderbook still represents over 18% of the fleet in deadweight terms. An additional problem is that most of the fleet is young, with 70% estimated to be less than 10 years old, while less than 4% is more than 20 years old. This poses a serious issue, as it’s quite hard for a ship owner to scrap a vessel of just 15 years old, thus rendering the option of scrapping to alleviate oversupply problems as impossible to look at. In total, during 2011, DVB estimated that 172 vessels came in the market, resulting in a net increase of 94 vessels, as 35 vessels were converted and others were scrapped altogether. According to DVB, it is essential that scrapping of double hull vessels is increased significantly and that all vessels older than 15 years should be considered as plausible scrapping candidates.
What’s even more scary is that on top of the 186 vessels delivered in 2010 and the 172 vessels delivered so far in 2011, a further 324 tankers of 62.9 mio dwt are scheduled for delivery before the end of 2013. “Given the current market fundamentals for the Crude Oil Tankers, even if we factor a 25% discount on the Orderbook due to slippage, postponements and cancellations due to financing difficulties, refund guarantees, etc Newbuilds entering the fleet by the end of 2013 will still represent a 12.8% increase over the current fleet in dwt terms (243 vessels of approximately 47.2 mio dwt)” concluded DVB.
Continuing on the Container and Gas sectors, Intermodal said that “we witnessed a more moderate growth in fleet size this year, mainly due to the modest newbuilding ordering that took place since the start of the financial crisis in late 2008. Nevertheless, it was only the Gas carrier sector that was able to maintain a more bullish atmosphere in the chartering market, largely thanks to the still increasing demand for cleaner energy sources. The Containers which are still heavily dependent on end consumers in Europe and America have had to deal with a moderately decreasing demand especially on the long-haul routes.
While this year has seen a significant number of both deliveries and scrapping take place, 2012 is set to be another record breaking year. We have an extraordinary number of vessels scheduled for delivery while demand for further tonnage is not expected to increase as rapidly. In essence and in spite of the recent stall in increasing demo prices, scrapping is expected to be considerable as the newly delivered tonnage take preference amongst the relatively few charterer inquiries, pushing older vessels to head to head for scrapping sooner then would be expected” concluded the shipbroker.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 02 January 12
THE PROMISE OF INDIA: A BRIEF INTERRUPTION? - CLARKSONS / HELLENIC SHIPPING
Future growth in Indian seaborne coal imports has sometimes been considered as one of the largest potential upsides in the currently oversupplied dr ...
Sunday, 01 January 12
IS INDIA FOLLOWING INDONESIA TO STANDARDIZE COAL PRICES TO GET MAXIMUM BENEFITS?
COALspot.com - Coal India limited, an Indian state owned and world largest coal producer has introduced gross calorific value (GCV) based pricing me ...
Saturday, 31 December 11
GLOBALCOAL NEWC INDEX SURGED 2.32 PERCENT
COALspot.com - globalCOAL index in Newcastle Port, benchmark for Asian market, ended substantially higher, surged 2.32 percent to US$115.47 per ...
Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE
The Jakarta Globe, one of the leading english news paper in Indonesia reported yesterday, shareholders of Indonesian coking coal miner Borneo Lumbun ...
Friday, 30 December 11
CENTRAL GOVERNMENT SHOULD ISSUE PERMITS - THE JAKARTA POST
The Jakarta Post reported that, business associations from both the palm oil and mining sectors have suggested that the central government should re ...
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Showing 4906 to 4910 news of total 6871 |
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- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- PTC India Limited - India
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Minerals Council of Australia
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Planning Commission, India
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
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