We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Saturday, 26 May 12
DRY BULK SHIP OWNERS LOOKING TO CUT BACK ON TONNAGE SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The oversupply of dry bulk carriers has been the most prominent problem in the market today, pushing down rates and ‘strangling’ profitability. According to ICAP Shipping congestion of the dry bulk fleet at Australian, Brazilian, Indian and Chinese ports at the end of last week was just above the 60Mdwt mark. "This is the highest level we have seen for thirteen weeks (since the middle of February this year) and is equivalent to around 10% of the total fleet. Interestingly, congestion has risen across all of the sectors from Capesize to Handysize. Capes currently account for 37.7Mdwt of the total queuing at ports, growth of over 7% week-on-week, while Panamaxes account for around 11.8Mdwt, growth of just under 9% w-o-w. Interestingly the largest percentage increases in congestion were for Supramax and Handysize, where on a w-o-w basis it rose by 15% and 25% respectively.
Nevertheless, in terms of deadweight these two sectors combined still accounted for less than total Panamax congestion. Provided all other factors remain unchanged, increased congestion at ports should provide some support to freight rates based on simple supply/demand dynamics; specifically a tightening of tonnage supply" said ICAP Shipping.
In its latest weekly report, shipbroker Intermodal noted that 2011 was a fairly disappointing year for shipping, with a tremendously large mismatch between supply and demand for the dry bulk segment in particular. “This affected both market prices and freight rates which fell close to some of the lowest levels recorded. Prices for tonnage older than 15 years of age reached fairly close to the residual value of the vessel itself (its value in terms of steel). It has been widely regarded in the whole shipping community that the only solution would be to scrap all vessels built prior to the 90's. As a result there has been an immense surge of older tonnage heading towards scrapyards in Bangladesh, China, India, Pakistan and Turkey. During the same period last year 17.8m deadweight has left the world fleet providing the markets with 3.5m tonnes of steel. By the end of 2011 the total amount of carrying capacity sent for scrap had reached 44.2m dwt which is equivalent with 8,7m tonnes of steel. Unfortunately and despite the evident efforts to reduce the fleet size, the large order book kept the supply of vessels on the rise. Around 1,125 dry bulkers (above 20,000dwt) were delivered during 2011, while at the same time only 339 dry bulkers (above 20,000dwt) were sent for scrap” said Spyros Stavropoulos, Intermodal’s analyst.
He went on to mention that “the first five and a half months of 2012 have shown positive signs, as demolition volume has been higher than that seen during the same period last year. Up to now, 25.8m dwt of vintage tonnage has been subtracted from the world fleet, albeit the fall in demolition price levels noted during the past weeks. These encouraging numbers are showing that the shipping community is committed to reducing the world fleet. An example of this temperament are the Capesize bulkers being sent for demolition which are defying the slide in ship scrapping prices”.
Meanwhile, “South Asian yards are well stocked as the subcontinent’s monsoon season approaches, while weakening steel demand in China has made its yards cut back on purchases. Prices in South Asian yards have dropped to $440-445 per ldt for bulkers and $465/ldt for tankers, from $450/ldt and $475-490/ldt the previous week. Chinese yards’ offers are unchanged at $390/ldt for bulkers and $415/ldt for tankers. But that did not stop owners from sending their ageing Capesizes for recycling, amid a still-depressed freight market. Big ships and vessels with rich stainless steel content continued to outperform the ship recycling market. With rates falling by the day, it is advisable for owners to decide the fate of their vessels quickly and take the best price/buyer available, as otherwise they may find themselves chasing down the market.
The drop in prices is explained by the oversupply of demo candidates which has led to an only natural drop in scrap steel prices. We can only hope that the levels of demolition seen so far this year for dry bulkers continue and that a significant amount of the large order book of 1,219 dry bulk vessels scheduled for delivery in the remaining period of 2012 is not fulfilled” Intermodal concluded.
Intermodal had noted that "Hellenic ship owners still occupy the top position amongst buyers in the secondhand S&P market. In its latest report, Intermodal mentioned that “since January they have managed to pick up at least 70 vessels spending over $ 1.2 billion to do so. This is a large difference when compared to the Chinese which hold second place amongst buyers’ nationality, with only 42 vessels reported purchased so far and having spent less than half the amount of that spent by the Greeks. This is even more remarkable when one considers the general lack of financing observed in shipping, let alone that available in the now illiquid Greek market”. In his note, Intermodal’s George Lazaridis stated that “all this points to the fact that Greeks continue to hold a firm belief in the shipping markets, as many of have an extensive experience of the market cycles and are used to navigating through such troubled market conditions. This does not mean that all is well and that there haven’t been or aren’t going to be casualties along the way. After all these cycles provide a cleansing opportunity, removing mismanaged companies and owners while at the same time pushing market players to remain competitive and efficient in the service they provide" he mentioned in a relative report.
Source: Nikos Roussanoglou, Hellenic Shipping
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Sunday, 17 June 12
S7 & S8 ROUTES ARE LIKELY TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The BDI gained some increase after continues fall for several weeks.
The BDI increased by 47 points (up by 5.36 pct) closing at 92 ...
Saturday, 16 June 12
INDONESIAN SUB-BITUMINOUS COAL & CFR SOUTH CHINA COAL CONTRACT SWAPS ARE UNDER PRESSURE
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for July deliveries seems to be under pressure this week.&nbs ...
Friday, 15 June 12
CAPESIZE - THE LEVELS THAT DID FIX ARE DOWN W-O-W LEVELS - FEARNLEYS
Handy
Another slow-moving market with rates hovering at same level as last week. US Gulf positions fixed USD 25,000 for trips to Cont/Passero and S ...
Thursday, 14 June 12
SMALLER DRY BULK CARRIERS LIKELY TO FACE MORE CHALLENGES; DEMOLITION ACTIVITY SET FOR RECORD YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest update on the dry bulk markets, BIMCO said that China is partly “failing to deliver” on raw material imports that can affe ...
Wednesday, 13 June 12
LOW COAL PRICES COULD CHANGE SUPPLY SIDE DYNAMICS - FITCH RATINGS
Fitch Ratings believes that the weakness seen in thermal coal prices in recent months should reverse once demand from major importers recovers, alth ...
|
|
|
Showing 4691 to 4695 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- The University of Queensland
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- MS Steel International - UAE
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Planning Commission, India
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
|
| |
| |
|
