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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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Tuesday, 15 January 13
GRANT SMITH APPOINTED GROUP MANAGING DIRECTOR OF BRAEMAR ADJUSTING
The Board of Braemar Adjusting is delighted to announce the appointment of Grant Smith as Group Managing Director of the company with immediate effe ...
Tuesday, 15 January 13
2ND MYANMAR MINING SUMMIT & OFFICIAL HOST MINISTRY OF MINES TO WELCOME OVER 200 DELEGATES NEXT WEEK
Press Release: The Ministry of Mines is hosting the 2nd Myanmar Mining Summit in Yangon on 21-24 January to unravel the local mining climate, prospe ...
Monday, 14 January 13
NEWCASTLE PORT SHIPPED 2.32 PERCENT LESS COAL W/E 14 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 3,123,312 MT of thermal and coking coal for week ended 0700 hours 14 January 2013, Newca ...
Monday, 14 January 13
THE COAL MONGOLIA - 2013 OFFICIALLY IN COOPERATION WITH TOP MINING COMPANIES
Press Release: Mongolian first mining portal site Mining.mn has already started its preparation of the International Conference “COAL MONGOLIA ...
Monday, 14 January 13
NTPC INVITES BIDS FOR 500K MT OF IMPORTED COAL
COALspot.com - NTPC Limited (formerly National Thermal Power Corporation) is the largest Indian state-owned electric utilities company called for a ...
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- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Parliament of New Zealand
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- The University of Queensland
- White Energy Company Limited
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
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