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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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Monday, 11 March 13
SUB-BIT FOB INDONESIA COAL SWAPS FELL 1.41 PERCENT W-W
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 1.41percent and CFR South China coal shipment ...
Sunday, 10 March 13
INDIA - INDONESIA SUPRAMAX FREIGHT : FIRM TREND
COALspot.com – This week freight market was raised and remained firm in all segments.
The BDI was up by 6.70 pct closed at 843 points, ...
Sunday, 10 March 13
INDONESIA'S FORESTRY DEPARTMENT IS TO INCREASE BORROW-TO-USE PERMITS (IJIN PINJAM PAKAI) FEE SOON
COALspot.com : Indonesia to increase borrows-to-use permit fees by 33.33 percent. The government of Indonesia is planning to increase the state&rsqu ...
Friday, 08 March 13
EKO SANTOSO BUDIANTO APPOINTED AS PRESDIENT DIRECTOR OF BERAU COAL ENERGY
COALspot.com - PT Berau Coal Energy has appointed Eko Santoso Budianto as new president director, replacing Rosan Roeslani. Berau’s extraordin ...
Friday, 08 March 13
INDONESIAN HBA UP FOR FIVE CONSECUTIVE MONTHS
COALspot.com - The Indonesian government has declared bench mark price for coal has moved upwards in March 2013.
The monthly coal reference ...
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- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- The University of Queensland
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
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