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Thursday, 28 February 13
SHIP OWNERS EXPECTED TO FACE A CHALLENGING YEAR, DESPITE THE FALL OF NEWBUILDING ORDERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 Tonnage oversupply and a lagging growth in world trade demand are expected to keep shipping in the "red", despite a series of measures adopted by most ship owners, in order to alleviate the current imbalance between supply and demand. According to the latest weekly report from shipbroker Intemodal, the overcapacity problem isn't a new one, as it was accurately predicted since the middle of 2008, when the world orderbook had already soared to unprecedented heights. As a result, these projections have turned into a stark reality nowadays, as the number of newbuilding deliveries continue to increase. The question is how much more of this increasing capacity can the industry sustain and at which point will be the tipping point at which we start to see modern well maintained vessel heading for lay-up or the beaches of the Indian Sub-Continent?
According to Intermodal's Panos Makrinos, "the main issue here is that shipbuilding capacity is still well beyond any reasonable expectation of what the industry could possible require in terms of replacement demand over the upcoming fears. The solution which has been proposed by many over the past years has been two fold. Firstly that shipbuilding capacity has to be reduced significantly through shipping of operations by some shipbuilders (i.e. a switch towards ship repairs) or even closing of inefficient shipyards and berths altogether. Secondly is that demolition activity will have to be sustained for a little while longer at its current levels in order to provide a chance for recovery in the freight market. Both of these steps were ignored by several owners during the 2009-2010 period, who instead of easing off their further new ordering, increased it, while at the same time keeping demolition volume to a minimal. The combination of the two and particularly the former has accounted for much of the dragging out of the current shipping crisis" he said.
Makrinos added that "all this changed in 2011 and 2012, as things started to get considerably worse in terms of freight earnings for most shipping sectors, pulling down the curtains on wrongfully placed optimism and bringing many of these owners back to their senses. Newbuilding activity dropped to a bare minimum for both the tanker and dry bulk sectors, helping the orderbook decrease considerably as the record number of vessels being delivered were not being replaced by further new orders. At the same time, we started to see cancelling of existing orders as well as rescheduling of delivery dates, helping further contain the rate of growth in the fleet" he noted.
Of course, demolition activity played a key role as well. Intermodal's analyst stated that "the fast paced increase in demand for cheaper sources of steel by India and China helped revitalize the market while keeping offered prices more buoyant than one would have expected to see during a downturn of the shipping cycle. These high prices for scrap steel coupled with the rapidly dropping values for further trading vessels helped make the choice “easy” for most owners of older tonnage. It's an industry first to be able to sell an overage unit for scrap and use the money generated as 30% equity on a modern 5 year old vessel. It is points like this which allowed for a strong increase in demo activity.
This is all well and good but is the market and better off than it was 12 months ago? Is there a turn to be seen in market conditions within 2013? Although both the newbuilding and demolition markets have started to play an active role in reversing the poor market conditions, they only affect one side of the supply-demand equation. The needed demand in global seaborne trade is still not there and what's worse is that we have a very modern fleet which makes for an inflexible market and could push things towards the “last resort” option of laying up vessels as was done back in the 80's. Let's just hope it doesn't come to that. All that can be said for now is that we expect 2013 to be equally if not more difficult than 2010 for shipowners. High demolition activity and limited new-building ordering are the best hope of seeing a light at the end of the tunnel" Makrinos concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 26 March 13
NEWCASTLE PORT SHIPPED 2.39 MMT OF COAL W/E 25 MARCH 2013
COALspot.com - Newcastle port in Australia has loaded 2.396 million tons of thermal and coking coal for week ended 0700 hours 25 March 2013, N ...
Monday, 25 March 13
BUNKER FUELS ARE ABOUT TO GET CLEANER, BUT AT WHAT COST? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The cost of bunkers is nowadays the driving force behind most ship owners' major decisions, with regulations bound to change in many parts of the w ...
Sunday, 24 March 13
THE SUB-BIT INDONESIA'S COAL SWAPS FOR Q2 DELIVERY PRICE LOST 7.47 PERCENT PMT M-O-M
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 3.39 percent and CFR South China coal shipment 2.65 ...
Sunday, 24 March 13
FREIGHT MARKETS CONTINUED TO FIRM - VISTAAR
COALspot.com - This freight market continued to remain firm in all segments except for cape index which softened slightly.
The BDI was up by 4.60 ...
Sunday, 24 March 13
DRY BULK MARKET PROSPECTS OFFER ROOM FOR RESTRAINED OPTIMISM SAYS SHIP OWNER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In its announcement regarding its annual performance, ship owner Frontline offered some useful insight on the future prospects of both the dry bulk ...
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- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- MS Steel International - UAE
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
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