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Saturday, 03 November 12
DEMOLITION IS THE KEY FOR DRY BULK SHIPPING'S RECOVERY SAYS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 With the number of new building deliveries so far in 2012 already having surpassed the total of 2011, it's more than clear that the dry bulk sector needs more than record demolition activity in order to compensate for the additional tonnage. In other words, older vessels will have to exit the world's fleet in a faster rate, otherwise they will end up competing with their newer counterparts for the same cargoes. According to a recent report from shipbroker Intermodal, more than 1,000 dry bulk carriers have already been delivered since the start of 2012, with over 85 million tons of deadweight capacity and there's two more months until the end of 2012.
According to Intermodal's Theodore Ntalakos, "demolition remains the only alternative for vintage tonnage especially for the bigger vessels. More than 25m tons dwt of dry tonnage have seen the way to the scrapyards, making 2012 another record year in demolition. If we look at demolition versus new deliveries, almost 400 dry bulk carriers have been scrapped representing around 40% of new deliveries. In terms of deadweight, since the new ships are always bigger, demolition is about 30% of the new building deliveries. Although the numbers are more favorable compared to 2011, in 2012 we have seen economies slowing down or even contracting which no doubt has affected global seaborne trade" he said.
We added that "looking at the ratio (demolition/new deliveries) x100 in terms of dwt and in each sub-sector of the dry fleet we can explain and highlight some findings:
Vessels up to 20,000dwt – Demolition is almost 74% of the tonnage or 93% in terms of dwt indicating that this is a sector where the fleet has remained stable.
+ Handysize – the ratio is 55% hinting both the small orderbook as well as the overaged fleet.
+ Handymax/Supramax – the ratio is 22%, showing the limited scraping compared to the very large Supramax orderbook. This number is up from 11% in 2011, which shows that despite the high utilization of this segment, the fleet needs to grow at a slower pace.
+ Panamax – the ratio is 33%, up from 24% in 2011. The lousy rates sent more ships for demo this year, 6.3m tons went for demolition and 19m tons dwt were delivered.
+ Capesize – another poor year for Capesizes explains the fact that scrapings represent almost 40% of new deliveries" he mentioned.
Concluding his argument, Mr. Ntalakos noted that "it feels like demolition activity this year was more of a necessity, not only because the market has remained depressed, but mainly because the future of the older vessels does not look that bright. No doubt the pressure of the orderbook remains enormous and will continue to strangle the market and when world demand subsides, the demolition alone cannot bring the rates back up. As we reach towards the end of 2012, more vessels are coming and surely more demo activity is expected".
Meanwhile, in terms of dry bulk supply, BIMCO noted in a mid-October report that "while our projections for the fleet growth in percentage have remained somewhat steady most of the year, the flows in and out have been much stronger than foreseen at the start of the year. The hectic delivery pace has surpassed the astonishing level of 10 million DWT a month several times, whilst demolition activity has breached the 3 million DWT a month level numerous times too".
The report also examined what can be deduced from this? "Probably that many shipyards are suffering under an intense lack of cash-flow. Whereas the payment structure of the contracts previously were mostly equally distributed or front-heavy from signing to delivery, the contracts that have been made more recently are likely to be back-end loaded, releasing the biggest chunk of the money to the yards closer to the completion and delivery of the ship. This could be one of many explanations that may eventually cause widespread bankruptcies amongst smaller and privately-held yards in the main shipbuilding nations. The active fleet has grown by 8.8% since the turn of the year, as 964 new ships have now been delivered into a fleet that already stood at 8,901 dry bulk carriers at the start of the year. Fortunately, the pressure of 80 million DWT of brand new capacity being poured into the market has been eased to some extent by 375 over aged vessels being demolished.
Ship owners continuously apply the demolition tool generously in order to improve the bad market conditions by cutting down on the supply side. Demolition activity in India, Bangladesh and Pakistan in particular is strong, with lots of dry bulk tonnage sold for breaking. Following the drop in demolition prices from the top in April prices have now moved sideways at a new lower level that has stuck around for some months now. 25 million DWT has now been demolished during 2012 with more to come, assuming that ship owners continue to be tempted by the recycling price level" it concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 18 December 12
NEWCASTLE PORT IN AUSTRALIA SHIPPED 20.19 PERCENT MORE COAL W/E 17 DECEMBER 2012
COALspot.com - Newcastle port in Australia has loaded 3,269,640 MT of thermal and coking coal for week ended 0700 hours 17 December 2012, Newc ...
Monday, 17 December 12
SHIP PRICES TO BOTTOM OUT IN 2013 SAYS GEORGE D. GOURDOMICHALIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship values especially in older tonnage, or even modern vessels with poor quality are expected to fall further during 2013, with the market as a who ...
Monday, 17 December 12
SYNERGISING WITH PIONEERS TO DEVELOP TOMORROW'S LATIN AMERICAN RAILWAYS
Press Release: Brazil being one of the largest country in South America has one of the most dynamic rail markets in the world. Rail transport in Bra ...
Sunday, 16 December 12
FREIGHT TREND SOFTENED THIS WEEK - VISTAAR
COALspot.com - The freight market further softened this week and closed at 784 points (down by 18.84 pct). The cape index had the biggest fall ...
Friday, 14 December 12
GMR GROUP OF INDIA TO IMPORT 100K MT OF 4800 GAR COAL
COALspot.com: GMR Group of India to invite bids for 100,000 Metric Tons of imported non coking coal to be delivered during January and February 2013 ...
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- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- White Energy Company Limited
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- PTC India Limited - India
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
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