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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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Sunday, 06 January 13
FREIGHT MARKET REMAINED FAIRLY STEADY - VISTAAR
WISH YOU ALL HAPPY NEW YEAR
COALspot.com - The freight market remained fairly steady in spite of Christmas / New Year Holidays. The BDI was almos ...
Saturday, 05 January 13
THE SHIPPING MARKET IN 2012 AND LOOKING FORWARD - BIMCO
Global Economy: Things will go up from here
The global economy continues to grow, albeit at a slower pace than previous years. The slower economic ...
Friday, 04 January 13
DRY BULK MARKET LOOKING FOR DIRECTION IN FIRST TRADING DAYS OF THE NEW YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market is actively looking for its footing at the start of the New Year, as charters have been scarce, as is usually the case during th ...
Thursday, 03 January 13
INDONESIAN SUB-BITUMINOUS COAL SWAPS CLOSED US$ 6.86 HIGHER FOR 2014 DELIVERY
COALspot.com - Swaps prices were changed positively for thermal coal for loading in the first quarter from Indonesia, according to SGX AsiaClear OTC ...
Thursday, 03 January 13
SUPRMAX FREIGHT RATE FROM RED SEA / INDIA IS AROUND MID TEENS - FEARNLEYS
Fearnleys in its weekly report said that, Indian market was very quiet in respect of export of iron ore. For Indo-India trip Supra rate was hovering ...
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- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
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