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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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Saturday, 18 August 12
BULK FREIGHT MARKETS CONTINUED THEIR DECLINE IN LINE WITH WEAK DEMAND - VISTAAR
COALspot.com - This week also the indices fell on all segments with BDI touching lowest in almost 3 years.
The BDI closed at 714 points down by 7 ...
Thursday, 16 August 12
PUBLIC PRIVATE PARTNERSHIPS CONFERENCE 2012
Press Release - Asia’s Premier Public Private Partnerships Conference 2012 will showcase commercial opportunities for investors and developers ...
Wednesday, 15 August 12
UT GENERATED RP 3.09 TRILLION NET INCOME
COALspot.com - As of June 2012 Indonesia’s heavy equipment market grew 14%, from 8,448 units to 9,618 units (based on UT’s internal mark ...
Tuesday, 14 August 12
SAKARI ENTERED INTO JV IN CAMBODIA TO EXPLORE COAL OPPORTUNITIES
COALspot.com - Sakari joints hands with The Royal Group of Companies in Cambodia to explore and develop coal opportunities throughout the country.
...
Tuesday, 14 August 12
SAKARI SIGNS HEADS OF AGREEMENT TO ACQUIRE SIX COAL CONCESSIONS IN INDONESIA
COALspot.com - Sakari has signed a Heads of Agreement (HOA) to acquire a 100% interest in up to six IUPs, covering an area of over 29,000 hectares, ...
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- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- The University of Queensland
- Central Electricity Authority - India
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
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