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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, 08 February 13
NORTH P&I CLUB WARNS OF LIQUEFACTION RISK FOR BAUXITE CARGOES
The ‘A’ rated 170 million GT North P&I club has warned shipowners carrying bauxite aluminium ore cargoes that they have the potentia ...
Thursday, 07 February 13
CHINA NDRC APPROVED 10 BILLION YUAN POWER GENERATION PROJECTS
NDRC of China currently announced that some of power grid and power station in Jiangxu, Sichuan and Anhui Province would be newly constructed or ext ...
Thursday, 07 February 13
CAPESIZE : MORE ACTIVE WEEK IN THE PACIFIC - FEARNLEYS AS
Handy
The Atlantic market remained stable with no significant movement in rates. Rates from USG to FEast were around USD 18k and Black Sea to Feast ...
Thursday, 07 February 13
WEAK STEEL MARKET MEANS IRON ORE RALLY LIKELY TO END SOON - FITCH
The sharp rebound in iron ore prices over the last couple of months will hurt margins at non-integrated steel producers in the first quarter of 2013 ...
Tuesday, 05 February 13
THE SHIPPING SECTOR IS " NAVIGATING IN STORMY WATERS" - PWC
The vulnerabilities of the global economy have been exposed and have more than played their part in making 2011 one of the worst years of shipping i ...
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- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
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