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