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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 important issue plaguing freight markets, the shipping industry is looking at yet another challenging year ahead, as 2013 is edging closer and closer. According to most market analysts, a potential recovery has to be postponed until at least 2014, but things could get even worse in the meantime, as a result of potentially further troubles in Europe.
According to Intermodal's latest analysis report, "the hit this time will be taken by the already crippled ship finance sector, with the upcoming banking reform possibly further limiting available credit lines to owners. Yet, the above will prove to be only a mere drop in the vast ocean of the future obstacles the shipping industry has to overcome. The worst possible effects of this banking reform will be with regards to trade rather than shipping investment itself. With shipping being a derived demand, this is something beyond the control of the industry’s players" said the report.
Intermodal's George Lazaridis said in the note that "what is in the industry players' control, is the performance of supply and how well it is organised to meet global requirements and that’s where the main focus should remain. As we stand now, it will be supply that will dictate the duration and extent of the damage caused to the industry. Owners have already taken steps to limit the fleet growth rate as much as they can. The noticeable delays and cancellations of newbuildings that have taken place this year have helped put a cap on the fleet growth rate. At the same time, thanks to a significant slowdown in new orders being placed, the orderbook has decreased dramatically. The final piece to the puzzle, though by no means of smaller importance, has been the record scrapping volumes witnessed this year" he said.
Lazaridis added that "with demand playing the most important role in giving a decisive direction to the market, it looks as though it may be heading for a drop, despite all these above measures taken. What’s important is to know by how much; If the stormy weather that is approaching is of “hurricane force”, we may find ourselves forming bridges of laid-up vessels. If on the other hand, we take the most optimistic case, it may well be that we will still have a number of troubled owners, witnessing their cash flows “run aground”. In any case this will leave distressed assets ripe for the picking for all those shipping funds that have amassed over the past years" he noted.
He concluded his argument by noting that "this may well seem like a repeat of the 80’s crisis, as mentioned countless times in conferences, articles and polite conversations, however it has more of the taste and feel of the 1930’s, which was a combined battle between a fleet oversupply that had amassed from the optimism of the roaring 20’s (70mill GT) and a recessive global economy brought about by an unprecedented financial collapse. Although this is in reference to a time that few, if any, are around to be able to give us a first account, nevertheless, it is notable to point out that at that time it took a major war to restructure the market and level things off between supply and demand. As it is highly unlikely and greatly undesirable for history to repeat itself, we will have to come to terms with the fact that market restructuring will have to come from within this time around. It will take a lot more sacrifices and restraints in order to bring a balance, as well as profitability once again to sectors such as dry bulkers and tankers" Intermodal's analyst concluded.
Source: Nikos Roussanoglou, Hellenic Shipping
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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 ...
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 ...
Tuesday, 04 December 12
JATENERGY SIGNS MOU FOR INDONESIAN COAL ASSET
COALspot.com - Jatenergy Limited has announced that its fully-owned Indonesian subsidiary, PT Barata Energy (BE), has signed an exclusive, non-bindi ...
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- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
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- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
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- Planning Commission, India
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- Meralco Power Generation, Philippines
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- Sojitz Corporation - Japan
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- Ministry of Finance - Indonesia
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- Samtan Co., Ltd - South Korea
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- Alfred C Toepfer International GmbH - Germany
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- Wilmar Investment Holdings
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Bangladesh Power Developement Board
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- IHS Mccloskey Coal Group - USA
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- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- The University of Queensland
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
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- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
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- Independent Power Producers Association of India
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
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- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
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- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
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- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
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- The Treasury - Australian Government
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- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
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