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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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Friday, 08 March 13
DRY BULK MARKET ON A RISING TREND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has continued its rising pattern set after China opened up again for business, following the Asian New Year Holidays. As a resul ...
Thursday, 07 March 13
PANAMAX : POSITIVE TREND; CAPESIZE : GRADUALLY SLIDE - FEARNLEYS AS
Handy
The Atlantic saw more cargoes than last week and rates ticking upwards. The USG-Feast was at USD 22k and Black sea-feast was at USD 12k. The ...
Tuesday, 05 March 13
NEWCASTLE PORT SHIPPED 20.77 PERCENT MORE COAL W/E 4 MARCH 2013
COALspot.com - Newcastle port in Australia has loaded 2,631,562 MT of thermal and coking coal for a week ended 0700 hours 4 March 2013, Newcas ...
Sunday, 03 March 13
INDONESIAN THERMAL COAL SWAPS; CHINA CONTRACTS FALL W-O-W
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 0.75 percent and CFR South China coal shipment&nbs ...
Sunday, 03 March 13
FREIGHT MARKET FROM INDONESIA EXPECTED TO BE FIRM - VISTAAR
COALspot.com – The freight market has been fairly firm this week except for cape size index.
The BDI was up by 4.64 points closing at 776 p ...
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Showing 4361 to 4365 news of total 6871 |
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- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Planning Commission, India
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Bhatia International Limited - India
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
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