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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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Tuesday, 05 February 13
CHALLENGER DEEP RESOURCES CORP HAS ENTERED INTO AN EXCLUSIVE MINING AND MARKETING AGREEMENT WITH KEM
COALspot.com - Challenger Deep Resources Corp., through its wholly owned subsidiary, PT Bestindo Energy, has entered into an Exclusivity Agreement r ...
Saturday, 02 February 13
ADARO TO INTRODUCE A NEW BRAND OF ENVIROCOAL, E4700, IN 2013
COALspot.com - Adaro Energy, an Indonesian and leading coal producer in country has achieved a record coal production during 4Q12 of 13.31 mil ...
Saturday, 02 February 13
FREIGHT MARKET MAY REBOUND AFTER CHINESE NEW YEAR - VISTAAR
COALspot.com - The freight market was soft and all the indices were down by around 5-7 pct this week.
The BDI was down 6.01 pct closing at 750 po ...
Friday, 01 February 13
ORPHEUS SELLS B26 COAL PROJECTS FOR US$ 2 MILLION TO FOCUS ON SOUTH KALIMANTAN
COALspot.com - Orpheus Energy Limited (ASX: OEG) has announced that it has sold its 51 percent equity stake in the East Kalimantan coal projects, Bl ...
Friday, 01 February 13
HANDY - FLAT; PANAMAX - FLAT TO WEAK; CAPESIZE - WEAK
Handy
The Atlantic market remained stable with no significant movement in rates. Rates from USG to FEast were around USD 17k and Black sea to Feast ...
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Showing 4396 to 4400 news of total 6871 |
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- The University of Queensland
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Planning Commission, India
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Economic Council, Georgia
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
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