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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, 31 January 13
DRY BULK RATES ON A FALLING PATTERN DUE TO ADVERSE WEATHER CONDITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The seasonal factor has emerged as the latest catalyst in determining the course of the dry bulk market, as the floods in eastern Australia, the big ...
Thursday, 31 January 13
NEWCASTLE PORT SHIPPED 2.70 MMT OF COAL W/E 28 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 2,703,921 MT of thermal and coking coal for week ended 0700 hours 28 January 2013, Newca ...
Thursday, 31 January 13
MMTC TO IMPORT 2.68 MMT OF COAL FOR ARAVALI POWER CORPORATION LTD
COALspot.com: The tender floated by MMTC on behalf of Aravali Power Corporation Ltd, a Joint venture between NTPC and State of Haryana for supply of ...
Wednesday, 30 January 13
TNPL TO SECURE 300K MT OF IMPORTED COAL SUPPLIES AT US$ 75.95 PMT FOR MARCH - AUGUST 2013 DELIVERY
COALspot.com – Chennai based Coastal Energy Private Limited (C&O Group of companies) offered lowest price of US$ 75.95 per met ...
Monday, 28 January 13
BAYAN RESOURCES TO SELL 18 MILLION TONS OF COAL TO GNPOWER MARIVELES COAL PLANT
Publicly-listed PT Bayan Resources announced on Friday that it had signed an agreement on coal sales with Philippine-based GNPower Mariveles Coal Pl ...
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- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- The University of Queensland
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- PTC India Limited - India
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
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