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