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Friday, 21 September 12
SHIP BREAKING ACTIVITY REACHES NEW RECORDS, AS ALREADY 2012 LEVELS HAVE SURPASSED THE WHOLE OF 2011 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The vast oversupply of vessels, most notably in the dry bulk shipping sector, has forced ship owners to intensify their efforts towards recycling their older vessels and, thus, helping remove part of the tonnage which has been looking for cargoes to no avail. With the dry bulk carrier fleet still on the rise, in a much faster pace than the increase of cargoes available, owners have no choice but to make room for the younger vessels entering the fleet.
According to the latest update on demolition activity from Athenian Shipbroker, “the total estimated capacity of tonnage recycled up to now this year has surpassed the whole turn-round for the year 2011, however sentiment in the recycling market continues to weaken as is evident from the sliding prices on offer by both Indian and Pakistani breakers. The Bangladeshi market seems to have been hit the hardest, with levels presently ranging between usd 370-395/ton and plenty of vessels that are already in cash buyers hands awaiting resale to local shipyards. while China remains pinned down due to local market woes, it is expected that even more tonnage will be diverted from the Pacific Basin towards the still more active sub-continent. What the impact of the continuous stream of vessels heading for demolition will spell for prices on offer remains to be seen” said the shipbroker.
In a separate report Lion Shipbrokers noted that “this week’s subcontinent’s rates continue to deteriorate (about $10 since last week) due to vast oversupply of tonnage. Cash buyers and scrap-yards alike, are “cherry-picking” available ships in the demo-market, thus driving prices further down. Rates are currently ranging between $380-$400 for bulkers, $395-$410 for tankers & $395-$405 for container vessels. China is soft paying $290-$305 while Turkey has weaken by $10 paying $305-$310 for bulkers, $320-$330 for containers & tankers.
Meanwhile, in the newbuilding markets this week, according to Clarkson Hellas, "whilst the World's shipbuilders converged in Hamburg last week for SMM 2012, with seemingly busy diaries, we are unfortunately yet to see too much fresh interest emerge from this and new enquiry continues to remain somewhat subdued. Despite this, the week has still seen some reports of new orders being placed, although these in the slightly more niche sectors such as the Car Carrier, Shuttle Tanker and Gas markets, which continue to offer the shipyards support. The overall market conditions continue to remain a challenge for the shipyards. Over the next 6 months, we continue to expect to see a consolidation of shipyard capacity (within China in particular), as a number of yards look to scale back their production and in doing so try to limit their exposure to lower priced contracts" mentioned Clarkson Hellas.
It added that "that being said, the number of contracts placed YTD stands at only 60% of last year’s equivalent (725 vessels in 2012 to date, compared to 1156 contracted Jan‐Sep 2011) and because of this there remains a large amount of production capacity still available from the yards in 2014. As witnessed throughout the year, competition amongst the yards will continue to remain fierce within the conventional sectors. Levels of demand in the market continue to remain limited and are being caused by the tight fiscal circumstances that many owners find themselves forced to operate in. This situation remains unlikely to change in the short term and therefore do expect competitively priced opportunities, including for the very latest economical designs, will become increasingly prevalent amongst the yards as they look to fill their outstanding production slots.
In terms of reported business; In Tankers, clients of AET Tanker Holdings are reported to have placed an order for a pair of 120,000dwt DP2 Shuttle Tankers at an un‐named Korean Shipyard. The yards, which we understand to be Samsung Heavy Industries will deliver the vessels from within 2014. Pricing has not been disclosed. In Gas, Hudong are reported to have won the order from China Shipping LNG for 4 x 174,000cbm LNG carriers. The vessels are expected to deliver from 2015 and through to 2017 but again no specific pricing has been mentioned, for this domestic order. The deal is understood to have options for a further 2 units attached.
Finally, Hyundai Mipo are reported to have won an order for one additional 6,600 CEU PCC from their existing client Ray Shipping. This will bring the total number of these units on order at the yard to 6 vessels and this latest unit will also deliver in 2014" the report concluded.
Source: Nikos Roussanoglou, Hellenic Shipping
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Sunday, 16 September 12
THE FREIGHT RATES FROM INDONESIA TO INDIA EXPECTED TO BE STEADY - VISTAAR
COALspot.com - The freight market was mixed with most indices closing positive except for the Panamax index.
The main sentiment seems to be ...
Saturday, 15 September 12
FINANCE MINISTRY OPPOSES TAX INCENTIVE PLAN FOR COAL MINERS - JP
The Jakarta Post reported that, the Finance Ministry has turned down the idea of providing a fiscal incentive to the country’s coal mining ind ...
Friday, 14 September 12
DRY BULK MARKET LOOKS TOWARDS CHINA FOR SOME POSITIVE NEWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market freight rates submerged underwater for a large part of the year, dry bulk owners are looking for some positive enhancement ...
Friday, 14 September 12
GOVT OFFERS CONDITIONAL TAX HOLIDAY TO AILING COAL MINERS - JP
The Jakarta Post, one of the leading English news paper in Indonesia reported that, acknowledging difficulties encountered by coal miners due to a p ...
Thursday, 13 September 12
PANAMAX: THE NEGATIVE TREND, POOR SENTIMENT CONTINUES - FEARNLEYS AS
Handy
Lack of cargoes and a growing list of available ships is causing rates to slip for all Atlantic trades.
The only trade keeping somewhat s ...
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- GMR Energy Limited - India
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Australian Coal Association
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- The University of Queensland
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
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