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Saturday, 17 November 12
RECORD DEMOLITION ACTIVITY SEEKS TO CURB TONNAGE OVERSUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 This year will prove to be another record-breaker in terms of scrapping of older vessels across all shipping segments, as the equally feverish pace of newbuilding deliveries don't leave ship owners much room for anything else. Today's market conditions could be very well described as the exact opposite of what was the case back in 2008, when scrapyards were literally pleading ship owners to sell them some of their older carriers, to keep them afloat, as most of them in places like India and Bangladesh were faced with closures. But, ship owners were finding out that their 25-year old vessels could fetch serious cash, either through the freight markets, or through a resale, so they had absolutely no incentives to scrap them.
Fast forward in 2012 and it's the opposite case, with owners looking to scrap and demolition yards enjoying an unprecedented boom. According to the latest weekly report from shipbrokers Intermodal, during the 10 months of 2012 (January-October) scrapping activity has reached new record heights. "All ships scrapped so far in 2012 amount to 55m tons of active carrying capacity, compared to 44m tons seen in 2011. We expect that demolition intake appetite will continue at the same pace as that experienced all throughout 2012, despite the small disruption this week during Diwali festivities, so we may well see that more than 1,500 ships, surpassing 60m tons dwt, will have been beached this year" said Intermodal's John N. Cotzias.
In the dry bulk sector, 489 bulkers have been scrapped totaling 30m dwt (432 units, 25m dwt 2011). "The average size of bulkers scrapped is 63,000dwt while in 2011 it was 57,000dwt. The average age of bulkers scrapped in 2012 is 28 years while in 2011 it was 31 years, so not only have we scraped bigger but also younger bulkers. Capes scrapped in 2012 are 74 (12.5m dwt) compared to the 67 Capes (11m dwt) seen in 2011, Panamaxes were 113 (7.6mil dwt) compared to 80 (5.4m dwt), Handymaxes were 84 (3.8m dwt) compared to 49 (2.2m dwt), Handysizes were 170 (5.4m dwt) compared to 131 (3.9m dwt). The net fleet growth for Bulkers during the past ten months has been 9.6%, while this could easily climb up to around 11% by the end of the year. As such it is interesting to note how important a role, the intensive scrapping has played in keeping the balance between the massive number of newbuilding deliveries and the growth in seaborne trade" Cotzias said.
In the tanker segment, "171 Tankers of 14m dwt have been withdrawn in 2012 (in 2011 we had 231 ships of 11.8m dwt). The average size of tankers scrapped is 82,000dwt while in 2011 it was 51,000dwt. The average age in 2012 is 26 years while in 2011 it was 29 years. We saw 19 (5.2m dwt) VLCCs scrapped in 2012, compared to 16 (11m dwt) in 2011, 24 Suezmaxes (3.5m dwt), compared to 2011 were we had 9 (1.3m dwt), 24 Aframaxes (2.4m dwt) compared to 2011 were we had 27 (2.6m dwt), 53 LR1 and MR ships (2.5m dwt) compared to 60 (2.6m dwt) in 2011. 202 (28m dwt) were the tanker newbuildings delivered during the first 10 months of 2012 and the net tanker fleet growth has been 3.2% so far, while scrapping has kept up pace equaling to half of the total newbuilding deliveries" the shipbroker's report noted.
Looking at the regional intake of every major demolition country, as always India leads the tables having taken 467 ships of 17.4mil dwt (4.2mt ldt), while Pakistan 95 ships of 9mil dwt (1.4mt ldt), Bangladesh 204 ships of 13.8mil dwt (2.4mt ldt), China 255 ships 11mil dwt (2.2mt ldt), and Turkey 226 ships of 2.1mil tns dwt (0.53mt ldt).
Intermodal's Cotzias concluded that "with steel prices still keeping firm, backed by a strong demand, and iron ore prices holding steady, we anticipate that demand for demolition candidates will remain strong during 2013, keeping the offered prices relatively close to today’s levels. This way, we may continue to see many ships leaving the active fleet, alleviating a heavily saturated and over-capacitated market that will likely hold through the last big lot of newbuilding deliveries in 2013.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 15 February 13
2ND ANNUAL INDONESIA MINING 2013 CONFERENCE
Bringing Indonesia's Mining Stakeholders Together Towards Improving Mining Investment Climate & Operations
Following the success of th ...
Friday, 15 February 13
SCRAPPING TO RISE AS BULKER OWNERS SUFFER - DREWRY MARITIME RESEARCH
Drewry's latest Dry Bulk Forecaster report suggests that cash-strapped shipowners will scrap younger and younger ships this year as the dry bulk ma ...
Thursday, 14 February 13
HANDY: ATLANTIC "STABLE"; PACIFIC "QUIET" - FEARNLEYS
Handy
The Atlantic remain stable with rates for FH from USG around USD 18k. The Pacific remains quiet due to Chinese New Year holidays. Rates were ...
Thursday, 14 February 13
BIMCO FORECASTS MOSTLY HIGHER DRY BULK RATES FOR THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Higher steel demand is expected to keep dry bulk rates elevated during the next six weeks, according to the latest BIMCO forecast. The Organization ...
Wednesday, 13 February 13
6TH ANNUAL CBM CONFERENCE
The 6th Annual CBM conference which will be held in Singapore on 18-21 June 201 offers comprehensive insights into leading CBM projects in the Asia- ...
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- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- MS Steel International - UAE
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Parliament of New Zealand
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
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