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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
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Saturday, 12 May 12
THE SHIPPING MARKET IS UNLIKELY TO SEE A REBOUND ANYTIME SOON - VISTAAR SINGAPORE
COALspot.com - The BDI softened this week and it was down by 1.64 pct closing at 1,138 points.
The cape index was up by 2.41 pct closing at 1,61 ...
Friday, 11 May 12
POLITICAL CHANGES COULD LEAD TO TEMPORARY HALT IN SHIPPING INVESTMENTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The potential of changes of political leadership in many of the world’s leading economies could very well lead to significant shifts in the di ...
Thursday, 10 May 12
DRY BULK ERRATIC ON LACK OF DIRECTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept up its erratic behavior as it went down again during yesterday’s session, on a lack of direct guidance in terms o ...
Wednesday, 09 May 12
COAL INDIA SIGNS FSAS WITH 13 POWER UNITS SO FAR - PTI
Press Trust of India has reported that, coal India has so far entered into fuel supply pacts with 13 power units, including Reliance Power's Rosa P ...
Tuesday, 08 May 12
DRY BULK MARKET LOOKING FOR NEW DIRECTION THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the BDI (Baltic Dry Index) the main benchmark of the dry bulk shipping industry not traded at the start of this week, traders, charterers and s ...
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Showing 4731 to 4735 news of total 6871 |
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- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Planning Commission, India
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- White Energy Company Limited
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- The University of Queensland
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
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