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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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Saturday, 23 March 13
WORLD COAL TRADE FIRST PASSES 1 BILLION TONS IN 2012 - VEREIN DER KOHLENIMPORTEURE E.V
Press Release: Hard coal imports to Germany on the previous year's level in spite of regenerative energies. Imports for power plants at an all-time ...
Thursday, 21 March 13
HANDY : RBCT ROUNDS FIXED AT $ 9000 + 300K BB - FEARNRESEARCH
Handy
The Atlantic market remains firm with cargoes seen to support healthy rates as per last week. The USG-Feast was at USD 25k and Black Sea-Feas ...
Wednesday, 20 March 13
NTPC TO IMPORT SEVEN MILLION TONS COAL FOR FOUR MONTHS
COALspot.com : NTPC Limited (formerly National Thermal Power Corporation) is the largest Indian state-owned electric utilities company has awarded&n ...
Tuesday, 19 March 13
CHINA GAS PRICE REFORMS AND APAC GAS PRICING - FITCH STREET VIEW
Fitch Ratings says pricing reform in the Chinese gas sector is unlikely to materially impact gas distributors' margins, and low gas prices in the U ...
Tuesday, 19 March 13
NEWCASTLE COAL EXPORTS FALL BY 4.27 PERCENT ON WEEK
COALspot.com - Newcastle port in Australia has loaded 2,365,561 MT of thermal and coking coal for week ended 0700 hours 18 March 2013, Newcast ...
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- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
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