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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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Tuesday, 07 August 12
KRISHNAPATNAM PORT HAS DISCHARGED 122,247 MTS OF COAL IN JUST 24 HRS
COALspot.com - Keeping with the tradition of the new records that are set at the Olympic Games 2012, Krishnapatnam Port has also achieved in setting ...
Tuesday, 07 August 12
THE JAKARTA POST EDITORIAL: REVISITING THE MINING LAW
The Jakarta post, one of the leading English news paper in Indonesia writes in its editorial today, what the domestic and foreign investors had drea ...
Tuesday, 07 August 12
BARAMULTI SET TO LIST ON BOURSE IN Q4 - JP
The Jakarta Post reported that, coal miner PT Baramulti Sukses Sarana is preparing to make its shares available to the public in the fourth quarter ...
Tuesday, 07 August 12
REALM RESOURCES COMPLETES STUDY ON ITS KATINGAN RIA COAL PROJECT
COALspot.com - Realm Resources Ltd. has announced that it has completed the Project Study for the Katingan Ria Project in Central Kalimantan, Indone ...
Monday, 06 August 12
3RD ANNUAL INDONESIA POWER
Press Release - 3rd Annual Indonesia Power is Indonesia’s premier power event, where commercial opportunities and new projects are identified. ...
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Showing 4626 to 4630 news of total 6871 |
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- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Planning Commission, India
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
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