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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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- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Planning Commission, India
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
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