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