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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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Monday, 06 August 12
COAL EXPORTS COULD ADD $2B TO $6B ANNUALLY TO U.S. ECONOMY - HELLENIC SHIPPING
Business groups backing Pacific Northwest coal export proposals on Thursday lauded a new report that claims increased U.S. coal exports could bring ...
Sunday, 05 August 12
SUB-BIT INDONESIA COAL SWAPS ARE WAY UP
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 1.36 percent on Friday (3 August 2012) closing W-o-W but gained& ...
Sunday, 05 August 12
INDONESIA'S ADARO TRIMS PRODUCTION FORECAST, CITES BAD ECONOMY - THE JAKARTA GLOBE
The Jakarta globe reported that, Adaro Energy, the country’s second-largest coal producer, has cut its annual production forecast to between ...
Sunday, 05 August 12
DRY BULK FREIGHT MARKET TO STAY WEAK NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com - The freight market continued to soften further in all segments.
The BDI was down by 8.68 pct closing at 852 points. The cape index ...
Friday, 03 August 12
INDIA - LIGHTS OUT! - SALVA
The Indian power sector hit global headlines this week for all the wrong reasons. Firstly, on Monday, over 350 million people lost power across nort ...
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- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Petron Corporation, Philippines
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- The University of Queensland
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
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