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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, 09 December 12
LOW DEMAND PUSHES CHARTER RATES TOWARDS DOWN - VISTAAR
COALspot.com - The freight market has softened and BDI, The Baltic Dry Index, a measure of shipping costs for dry bulk goods, plunged below 10 ...
Friday, 07 December 12
A NEW PHASE FOR AUSTRALIAN RESOURCES - A FITCH STREET INTERVIEW
This week Matt Jamieson spoke with Andrew Colquhoun in Fitch's Asian sovereign rating team, and Vicky Melbourne, Fitch's commodity analyst based i ...
Friday, 07 December 12
SHIPPING INDUSTRY LOOKING ON YET ANOTHER TOUGH YEAR AS WE APPROACH 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With shipping finance "on the ropes" as traditional lenders appear to be cutting their losses and tonnage oversupply still the most import ...
Thursday, 06 December 12
PANAMAX : THE POSITIVE VIBES IN THE ATLANTIC REMAINS - FEARNLEYS AS
Handy
The Atlantic market is still depressed with dearth of cargoes and more ships. The trips from Continent to Feast fixed around USD 12k. Trips f ...
Thursday, 06 December 12
STRONG CHINESE DEMAND FOR DRY BULK COMMODITIES EXPECTED FOR 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A new analysis from BIMCO released yesterday suggests that 2013 is expected to be a stronger year in terms of China's "hunger" for commod ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Indika Energy - Indonesia
- The Treasury - Australian Government
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- ASAPP Information Group - India
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
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