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Friday, 31 August 12
ADVERSE SHIPPING MARKET CONDITIONS SHORTENS LIFE SPAN OF VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The adverse conditions which have been put in place in the world's freight markets, means that ship owners are forced to scrap vessels of a much younger age than before, in a reversal of the trend established during the industry's "golden years" of the past decades, when older vessels were kept in service for much longer than originally intended. In a recent report on the current demolition trends, shipbroker Intermodal noted that "since the second half of 2009 that we initially felt the big drop in freight rates, the problem of excess tonnage in the market has been top on everyone’s agenda. All parties involved in the shipping industry had voiced their concerns and agreed that demolition is going to be the only fast way to escape from the current unfavorable conditions. This meant that all the early/mid/late 80’s vessels would ideally have to head to the breakers’ yards even if they had been well maintained or had their trading certificates valid for many more years" it said.
The report from Intermodal's Panos Makrinos continued by mentioning that "four years have gone by since then and with a significant number of these 80’s built vessels having already been removed from active service, we are still facing a problem of an ever growing fleet at an extraordinary rate. It seems as though the scrapping age will continue to drop as freight levels continue to dwindle at their current unviable levels. We have already started to see several 90’s built vessels going for scrap with good examples being the two Capesize bulkers and Suezmax Tankers of ‘’FRONTLINE MANAGEMENT’’ which had been sold earlier this year to sub-continent buyers for demolition" it said.
Makrinos added that "our feeling is that if the freight market continues to have the same uncertainty and poor prospects, it will be no surprise to us if we start to see a plethora of early 90’s built vessels being as sold for demo. Let’s not overlook the fact that the average age of scrapped dry bulk vessels has dropped from 31 years seen last year down to 28 years seen in 2012. Additionally, we had mentioned in our previous report; during 2012 the active bulker fleet has grown by 6% in vessels and 8% in DWT, this means that the overcapacity problem is still there as a serious headache for all ship owners, despite the fact that more than 33.5mil tons of DWT (approximately 713 ships) have been already removed from the active fleet from the beginning of this year.
Considering the above demo figures and expected N/B deliveries within the last quarter of 2012 and first months of 2013, the only hope for the future of shipping is the magic word demolition… However, the question that arises here for one more time is whether this common thinking is indeed correct and able itself to recover the current uncertain situation, as well as for how long will demo Buyers buy vessels at attractive levels and will the current prices be able to be supported in the case that demand for steel and iron ore moves further down.
Demo prices have been fairly volatile these past couple of weeks, leaving a lot of uncertainty with regards to the direction the market will take in the medium-term. As per last done deals, demo prices in the sub-continent are currently between USD 395 - 410 per lightweight for bulkers and for tankers around USD 420 - 440 per lightweight" the report concluded.
Meanwhile, in the dry bulk markets this week, the Capesize segment "hit the ground running this week, despite a Bank Holiday in London. An injection of fresh cargo, largely down to numerous typhoons across the Pacific, was followed by a flurry of fixing on WA/China routes with the rate rising steadily since Monday morning. WA/China rates are very positional at present, with prompt tonnage achieving a reported high of usd 7.80 pmt, whilst tonnage eta 10-14 Sep has been fixing up to around usd 7.25 pmt. The Pacific RV index has improved in line with these gains, standing at usd 4,361 at the time of writing. The Atlantic has shown more tentative improvement, with some Columbian coal now moving but spot vessels keeping a lid on rates. The Atlantic RV currently stands at usd 2,950, whilst a reported usd 17.75 pmt was last done for Tubarao/Qingdao basis mid September dates" said the latest weekly report from Braemar Seascope.
Commenting on the Panamax front, it said that "Panamax Owners endured yet another week of attrition, with insufficient cargo and declining rates. Any hoped for input of fresh cargo for the Atlantic market failed to happen and looking forward, the outlook is negative with the U.S. drought situation unlikely to deliver any good news for the coming Autumn grain harvest and export programme. There are many vessels in ballast towards the Atlantic from the Pacific. The Pacific has also seen limited fresh cargo and with many spot/prompt vessels around, there is no chance for Owners to halt the further downward trend" Braemar concluded.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 29 August 12
SECOND HAND VESSELS IN HIGH DEMAND DESPITE SUMMER SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the slow summer season, ship owners appear to be rather keen in acquiring some modern second hand tonnage at "knock-down" prices. ...
Monday, 27 August 12
BUMI BOOKS $322.1 MILLION NET LOSS IN 1H 2012 IN SPITE OF 8.6 PERCENT INCREASE IN SALES REVENUE
PT Bumi Resources Tbk, the single largest coal producer and exporter in Indonesia announces its first half financial report for the ...
Monday, 27 August 12
OVER 200 FOREIGN COMPANIES AND ENERGY MAJORS EXPECTED AT 2ND MOGP SUMMIT IN YANGON
Singapore based CMT and Machinery & Solutions Co. Ltd (M&S) announce that the 2nd MOGP Summit will be held on 3-6 September at the Sedona ho ...
Sunday, 26 August 12
SOUTH AFRICAN COAL OVERVIEW
South Africa's indigenous energy resource base is dominated by coal.
Internationally, coal is the most widely used primary fuel, accounting for ...
Saturday, 25 August 12
FREIGHT RATES ARE EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - This week the indices showed some signs of improvement will all the segments moving up except for the handy size.
The BDI was marg ...
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- Economic Council, Georgia
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- PTC India Limited - India
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- The University of Queensland
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Siam City Cement - Thailand
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
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