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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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Thursday, 07 February 13
CHINA NDRC APPROVED 10 BILLION YUAN POWER GENERATION PROJECTS
NDRC of China currently announced that some of power grid and power station in Jiangxu, Sichuan and Anhui Province would be newly constructed or ext ...
Thursday, 07 February 13
CAPESIZE : MORE ACTIVE WEEK IN THE PACIFIC - FEARNLEYS AS
Handy
The Atlantic market remained stable with no significant movement in rates. Rates from USG to FEast were around USD 18k and Black Sea to Feast ...
Thursday, 07 February 13
WEAK STEEL MARKET MEANS IRON ORE RALLY LIKELY TO END SOON - FITCH
The sharp rebound in iron ore prices over the last couple of months will hurt margins at non-integrated steel producers in the first quarter of 2013 ...
Tuesday, 05 February 13
THE SHIPPING SECTOR IS " NAVIGATING IN STORMY WATERS" - PWC
The vulnerabilities of the global economy have been exposed and have more than played their part in making 2011 one of the worst years of shipping i ...
Tuesday, 05 February 13
NEWCASTLE PORT COAL SHIPMENTS DROPPED BY 10.77 PERCENT W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,412,497 MT of thermal and coking coal for week ended 0700 hours 4 February 2013, Newca ...
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Showing 4391 to 4395 news of total 6871 |
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- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
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