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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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Monday, 12 December 11
DRY BULK MARKET LOOKING FOR BALANCE AS WE ENTER 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
During the past few months, freight rates for dry bulk carriers, especially Capesizes have increased significantly, providing ship owners with a muc ...
Sunday, 11 December 11
THE PANAMAX INDEX ENDED ON POSITIVE DIRECTION - VISTAAR
COALspot.com - The BDI and Cape index continued the upward trend this week also with BDI up by 3.00 pct closing at 1,922 points and Cape index up by ...
Saturday, 10 December 11
MAHAKAM RIVER RESUMES COAL TRANSPORTATION
COALspot.com - East Kalimantan local government has resumed limited coal barging through Mahakam River after two weeks of suspension following the c ...
Friday, 09 December 11
DRY BULK MARKET REBOUNDS ON HEALTHIER DEMAND OUTLOOK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market edged forward yesterday, at the highest rate of the past couple of weeks, as a result of stonger iron ore demand, backed by lowe ...
Thursday, 08 December 11
INDIA MAY SEE 41% ANNUAL GROWTH OF ITS COAL DEMAND DURING THE NEXT 5 YEARS - ICAP SHIPPING
India’s Ministry of Coal expects that India’s coal demand may face an annual 41% rise during the next 5 years, while its coal deficit is ...
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- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Economic Council, Georgia
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- The University of Queensland
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Planning Commission, India
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
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