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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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Wednesday, 14 December 11
MINER TOBA BARA SEJAHTRA PLANS IPO IN 1ST HALF OF 2012 - THE JAKARTA GLOBE
The Jakarta Globe reported that, Coal miner Toba Bara Sejahtra is aiming high next year, hoping to capitalize on renewed bullish sentiment in the lo ...
Wednesday, 14 December 11
TIMAH PLANS TO BOOST ITS COAL PRODUCTION TO TWO MILLION TONS PER ANNUM - SOURCES
COALspot.com - Timah plans to boost its coal production to two million tons per annum. The company also expects to acquire coal concession with mini ...
Wednesday, 14 December 11
BORNEO RESOURCE INVESTMENTS LTD. FINALIZES ACQUISITION OF INTEGRA PRIMA
COALspot.com - Borneo Resource Investments Ltd., announced that it has finalized the acquisition of an additional 1,300 hectare coal mining concessi ...
Tuesday, 13 December 11
BERAU COAL SCOUTS US$1.61 BIO SALES - INSIDER STORIES
Insider Stories reported that, coal mining company PT Berau Coal Energy Tbk (BRAU), that is 85% owned by London-listed company Bumi Plc, estimates a ...
Tuesday, 13 December 11
CAPESIZES AND PANAMAXES LEAD DRY BULK MARKET HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched closer to the 2,000 mark on Monday, with Panamaxes rebounding firmly and leading the gains. As a result, the industry&rsq ...
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- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Mjunction Services Limited - India
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
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