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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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Wednesday, 20 February 13
BAKRIE GROUP LOOKS TO HAVE A CLEAR UPPER HAND - LUCKY ARIESANDI, CFA
The Bakrie-Rothschild saga is entering its final stage, with Bumi Plc (BUMI LN)’s holders to convene on 21 Feb at 11am GMT to vote on Nat Roth ...
Tuesday, 19 February 13
NEWCASTLE PORT SHIPPED 38.65 PERCENT LESS COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 1,820,559 MT of thermal and coking coal for week ended 0700 hours 18 February 2013, Newc ...
Monday, 18 February 13
78.75 MILLION TONS OF COAL RESERVES ARE NEWLY PROVEN IN WUGANG HUNAN PROVINCE
COALspot.com - Recently, Wugang City, known as the CHINA hundred key coal producing cities, achieved new breakthroughs in coal exploration: deep coa ...
Sunday, 17 February 13
STEEL DEMAND WILL HELP TO PUSH UP FREIGHT RATES - VISTAAR
COALspot.com - This freight market has been fairly steady week ended 15 February 2013.
The BDI was slightly up by 0.67 pct closing at 753 points ...
Friday, 15 February 13
2ND ANNUAL INDONESIA MINING 2013 CONFERENCE
Bringing Indonesia's Mining Stakeholders Together Towards Improving Mining Investment Climate & Operations
Following the success of th ...
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- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- The Treasury - Australian Government
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- The University of Queensland
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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