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