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Wednesday, 04 January 12
NEWBUILDING ORDERS PICKED UP IN 2011, BUT 2012 EXPECTED TO BE A DIFFERENT STORY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 With the BDI (Baltic Dry Index) starting the year on a sour note, losing 114 points and ending yesterday’s session, the first of the new year, at 1,624 points, it’s worth taking a look at one of the factors which is expected to determine the future of shipping, i.e. newbuilding ordering activity. In its latest weekly report, which this time has a more of an annual feeling, Clarksons Hellas said that the shipyards will be quite happy with 2011, in terms of dollar contract value, although this this has been against the backdrop of a far smaller volume of vessels contracted this year.
According to Clarksons, “this can clearly be seen across the more conventional sectors, where in Tankers of over 10,000 dwt we have seen just under 100 Vessels being penned so far this year against more than 250 in 2010. In Dry bulk, again over 10,000 dwt, we have seen around 330 vessels contracted in 2011, against over 1,150 in 2010 – a drop of some near 70%!
It has been the high value sectors that have had a much more positive year with over 50 LNG carriers contracted this year, against a mere six in the previous calendar year.
Likewise, amongst within the Container sector, the Post]Panamax and Super Post]Panamax sizes saw a very good first half of the year, although the second half of the Year has been somewhat quieter. All in all though there has been a near 225% increase in the number of containerships ordered in the 8,000 TEU + sector this year against 2010.
Offshore has again been steadily active with the high oil price keeping up the demand from the owners and the charterers for more Vessels. Let us see what the New Year brings and if the more staple fodder of the Yards in terms of the dry and wet contracting sees resurgence in ordering” said Clarksons in its report.
Moving on to the second hand market and more specifically on to the dry bulk market, it mentioned that “the sale and purchase market showed few signs of resistance over the course of the year on the back of massive newbuilding deliveries and the availability of new buildings off reasonably prompt dates at reduced prices. Capes and panamaxes were hit particularly hard in the first six months of the year, not surprisingly with capes averaging US$8,546 over this timeframe, but more recently we have seen the smaller supra]handymax / handysize also register significant falls .Also at the forefront of potential Buyers minds were a sales candidates speed and consumption figures, and rightly so with bunkers over US$700 / ton. With this in mind, prospective Buyers of modern tonnage are also weighing up the merits of investing in the new 'eco' newbuilding designs from the Chinese shipyards in particular, but also now from Japanese and Korean shipyards, offering significant savings in this area. The first of these designs will be 'on the water' later next year, and how they perform under trading conditions will be watched carefully by both Owners and charterers.
The availability of finance ] or lack thereof ] also remains a major obstacle to Buyers of ships with, in the main, the traditional financing banks being able to be selective with whom they wish to lend to. To exacerbate the situation, the number of active ship finance lenders has reduced significantly with some banks looking to sell portfolios or exiting the shipping sector completely, leaving buyers with no option but to seek new banking relationships to secure funding. US dollars, in particular, are in short supply in international ship finance and this shortage coupled with the sovereign debt problems of Europe are among the reasons why banks have curtailed lending activities. Global banks have also become increasingly risk averse, tightening credit criteria and lending less thus requiring borrowers to increase equity contributions to protect against volatility in asset values and ensuring that break]even levels are set below historic earning levels. Although Asian banks are gradually playing a greater role in ship finance, it will take some time before they are significant capital providers for the shipping sector as capital is largely reserved for domestic clients. Together with an uncertain outlook for the physical markets, there seems to be a feeling that buyers will be seeking real value on the second hand side before committing to purchases” concluded Clarksons Hellas.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 05 January 12
DRY BULK MARKET TAKES A PLUNGE OF LOW ACTIVITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected the first days of the new year are characterized by significantly low chartering across the board of the dry bulk market, pus ...
Wednesday, 04 January 12
MAHAGENCO TO IMPORT LOW MOISTURE COAL
COALspot.com - Maharashtra State Power Generation Co. Ltd. is the state power generation utility owned by Government of Maharashtra, intends to proc ...
Tuesday, 03 January 12
INDONESIA COAL REFERENCE PRICE FELL AGAIN
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the January 2012 coal reference price at US$ 109.29 per ton or US$ 3.3 ...
Tuesday, 03 January 12
WHICH WAY WILL THE DRY BULK MARKET HEAD ON FIRST WEEK OF THE YEAR? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Dry bulk ship owners will be wondering which way will the BDI (Baltic Dry Index), the industry’s benchmark, will head during the first days of ...
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 ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Latin American Coal - Colombia
- Bhatia International Limited - India
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- White Energy Company Limited
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- PTC India Limited - India
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
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