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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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Tuesday, 27 December 11
MINERS MAKE CASE FOR RESUMING CONTRACT NEGOTIATIONS - THE JAKARTA POST
The Jakarta Post reported that, problems with the renegotiation of mining contracts in the country are far from over, as agreements on several cruci ...
Tuesday, 27 December 11
COAL SHIPMENT OF TIANJIN PORT REACHED 6.72 MLN TONNES IN NOVEMBER - STEEL HOME / HELLENIC SHIPPING
Tianjin port shipped 6.72 million tonnes of coal in November, decreasing 600,000 tonnes versus 7.32 million tonnes in October, while up 21.09% or 1. ...
Tuesday, 27 December 11
NEW CLAUSE PUBLISHED FOR SLOW STEAMING - BIMCO
Many owners and operators faced with high bunker prices are considering implementing slow steaming regimes to save fuel and to assist with capacity ...
Monday, 26 December 11
NEW EXPORT TAX PLAN GREETED WITH PRAISE AND CRITICISM - THE JAKARTA POST
The Jakarta Post, one of the Indonesia's leading english news paper reported that, both praise and criticism showered the government’s plan t ...
Sunday, 25 December 11
THERMAL COAL PRICES GAINED UP TO 4.32 PERCENT
COALspot.com - globalCOAL index gained 4.32 percent to US$106.36 per ton in RBCT, benchmark for South Asia and West Europe markets, for the week end ...
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Showing 4911 to 4915 news of total 6871 |
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- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
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