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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, 28 February 13
INDIA HAS INCREASED CUSTOMS DUTY AND COUNTERVAILING DUTY FOR POWER PLANT COAL
COALspot.com : The government of India raised basic customs duty and countervailing duty on steam coal. In the meantime government has reduced& ...
Thursday, 28 February 13
PANAMAX : MARKET HAS SEEN A GOOD UPTURN OVER THE LAST WEEK - FEARNLEYS
Handy
The Atlantic saw more cargoes than last week and rates ticking upwards. The USG-Feast was at USD 19k and Black Sea-Feast was at USD 11k. The ...
Wednesday, 27 February 13
NEWCASTLE PORT IN AUSTRALIA SHIPPED 0.358 MILLION MT MORE COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,178,869 MT of thermal and coking coal for week ended 0700 hours 25 February 2013, Newc ...
Wednesday, 27 February 13
NEWLEAD HOLDINGS LTD. ANNOUNCES COAL SUPPLY AND DELIVERY CONTRACT
NewLead Holdings Ltd. yesterday announced that the Company has signed an agreement to supply and deliver 1.48 million metric tons of steam coal to a ...
Tuesday, 26 February 13
10TH CLEAN COAL FORUM WILL BE HELD ON JUNE 2013
CDMC Events will be presenting the 10th Clean Coal Forum 2013 on June 13 - 14, 2013 in Beijing,China.
It will make you understand regulatory asp ...
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- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Thai Mozambique Logistica
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- The University of Queensland
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