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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, 11 August 12
SUB-BIT INDONESIA COAL SWAPS SEEN MOVING IN THE RIGHT DIRECTION
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 1.29 percent W-o-W on Friday (10 August 2012) closing but lost 1 ...
Friday, 10 August 12
DRY BULK MARKET DROWNING FROM TONNAGE OVERSUPPLY - HELLENIC SHIPPING
The dry bulk market has been overflowing with new building vessels, despite the fact that demand is more or less (and minus the seasonal factors) ri ...
Thursday, 09 August 12
3RD ANNUAL SHALE GAS
Press Release - With the North American shale gas boom, IBC’s 3rd Annual Shale Gas explores optimal strategies to monetize Asia’s domest ...
Wednesday, 08 August 12
EXPLOITASI AIMS TO RAISE RP 2.7T FOR ACQUISITION - THE JAKARTA POST
The Jakarta Post reported that, publicly listed coal miner PT Exploitasi Energi Indonesia (CNKO) is seeking to raise Rp 2.7 trillion (US$286.2 milli ...
Tuesday, 07 August 12
2ND ANNUAL FLOATING TERMINALS
Press Release - After a ground breaking and successful launch in 2011, the 2nd Annual Floating Terminals conferenceis back to address innovation, co ...
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- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- ICICI Bank Limited - India
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- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- The University of Queensland
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
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