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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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Monday, 11 February 13
NEWCASTLE PORT SHIPPED 23.01 PERCENT MORE COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,967,761 MT of thermal and coking coal for week ended 0700 hours 11 February 2013, Newc ...
Sunday, 10 February 13
INDONESIA SUB-BIT SWAPS: "UP" - CFR SOUTH CHINA SWAPS: "DOWN"
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 0.72 percent W-O-W and CFR South China coal shipme ...
Sunday, 10 February 13
DRY BULK OVERSUPPLY OF TONNAGE SEEN WANING IN THE COMING MONTHS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It seems that the tide could be shifting in the dry bulk market, in terms of tonnage oversupply, according to the latest data figures. This could ex ...
Sunday, 10 February 13
HIGHER BUNKER PRICE PUSHES SEA FREIGHTS FIRM - REDDY
COALspot.com - The freight market was soft and all at same levels with Chinese year holidays next week.
The BDI was slightly down by 0.27 pct ad ...
Friday, 08 February 13
NORTH P&I CLUB WARNS OF LIQUEFACTION RISK FOR BAUXITE CARGOES
The ‘A’ rated 170 million GT North P&I club has warned shipowners carrying bauxite aluminium ore cargoes that they have the potentia ...
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- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
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