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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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Saturday, 24 December 11
CHINAS LEVEL OF GROWTH TO DETERMINE COURSE OF DRY BULK MARKET IN 2012 SAYS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest report, shipbroker Intermodal attempted to find a silver lining in the tough year that was 2011, as well as what one could expect from ...
Friday, 23 December 11
SPOT PACIFIC CAPESIZE VESSELS HAVE COMMANDED HIGH PREMIUMS - FEARNLEYS
Handy
Rates in the Atlantic kept stable from last week, with a touch of negativity closer to the end. Less spot cargoes seen, and owners are ...
Friday, 23 December 11
CONTENTIOUS ISSUES IN CONTRACT RENEGOTIATION - THE JAKARTA POST
The government has been renegotiating mining contracts, especially those 30-40 years old, with almost all mining companies, including PT Freeport In ...
Friday, 23 December 11
LANCO JOINS HANDS WITH BUKIT ASAM FOR INDONESIAN POWER PROJECT
COALspot.com - PT Tambang Batubara Bukit Asam, Indonesia's state owned coal miner and Indian based Lanco Infratech Ltd plans to build steam power p ...
Thursday, 22 December 11
RI WILL NOT PLAY CATCH-UP WITH GLOBAL COAL DEMAND - THE JAKARTA POST
The Jakarta Post reported that, the International Energy Agency (IEA) has predicted in its Coal Market Report 2011 that over the next five years, gl ...
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- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- The University of Queensland
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- MS Steel International - UAE
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Australian Coal Association
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Central Electricity Authority - India
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