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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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Sunday, 24 February 13
COAL SWAPS INCH UP WEEK - ON - WEEK
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 0.17 percent and CFR South China coal shipme ...
Sunday, 24 February 13
BDI FELL 1.72 PERCENT BUT FREIGHT MARKET FAIRLY STEADY - VISTAAR
COALspot.com - This freight market has been fairly steady this week but, BDI fell1.72 pct and closed at 740 points.
The cape index also joins BDI ...
Saturday, 23 February 13
IHS MCCLOSKEY 20TH ANNUAL COAL CONFERENCE OF THE AMERICAS
IHS McCloskey 20th Annual Coal Conference of the Americas to be held on 13-14 March 2013 in Cartagena, Colombia
IHS is pleased to invite you to t ...
Thursday, 21 February 13
HANDY : THE PACIFIC MARKET GOT FIRMED UP AS CHINESE CAME BACK FROM HOLIDAYS - FEARNLEYS
Handy
The Atlantic saw more cargoes than last week but rates remained unchanged as lot of ships in the market. The USG-Feast was at USD 18k and Bla ...
Thursday, 21 February 13
SPRING COAL PROCUREMENT 2013 IS ABOUT TO TAKE PLACE
In 2012, “Steady Growth” had set the keynote for China’s economic development. Guided by the principle of progressing steadily, do ...
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- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
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