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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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Thursday, 14 March 13
DRY BULK MARKET KEEPS ON RISING MOMENTUM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has maintained its rising momentum, on the back of increased cargo availability. According to yesterday's figures, the industry ...
Thursday, 14 March 13
SHIPPERS AND CARRIERS NEED GREATER COMMUNICATION AND MUTUAL UNDERSTANDING
Press Release – Shippers and shipping lines both need to raise their game if global container supply chains are not to be habitually subject t ...
Wednesday, 13 March 13
NEWBUILDING PRICES EXHIBIT NO FALL IN PAST SIX MONTHS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the fact that oversupply has been the key plague of the shipping markets in recent years and newbuilding ordering activity has receded subst ...
Tuesday, 12 March 13
COAL MINING PRIVATIZATION IN INDIA: MUST - SUNIL K KUMBHAT
COALspot.com - India has the one of the richest coal reserves in the world and the country should have shown significant progress and gained the pos ...
Tuesday, 12 March 13
NEWCASTLE PORT SHIPPED 2.47 MILLION TONS OF COAL W/E 11 MARCH 2013
COALspot.com - Newcastle port in Australia has loaded 2,471,080 MT of thermal and coking coal for week ended 0700 hours 11 March 2013, Newcast ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
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