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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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- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- London Commodity Brokers - England
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Economic Council, Georgia
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- VISA Power Limited - India
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
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