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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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Sunday, 20 January 13
S7 & S8 ROUTE FREIGHT TREND IS EXPECTED TO BE FLAT TO SOFT THIS WEEK - VISTAAR
COALspot.com - The freight market was fairly steady with all the indices BDI up by 9.21 pct closing at 837 points. The Cape index was also sharply u ...
Friday, 18 January 13
NEWLEAD HOLDINGS LTD. TO ACQUIRE TWO COAL PROPERTIES WITH ESTIMATED COAL RESERVES OF 18.6 MMT & 143.1 MMT
NewLead Holdings Ltd. Announces Signing Agreement to Acquire Properties with Estimated Coal Reserves of 18.6 Million Tons; Signing Agreement to Acqu ...
Friday, 18 January 13
DRY BULK MARKET ON THE RISE, ON STRONG DEMAND FOR CAPESIZE VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has continued its climbing trend yesterday, as the industry's benchmark, the Baltic Dry Index (BDI) was up by 39 points to 820. ...
Friday, 18 January 13
CAPESIZE : SIGNALS ARE MIXED BUT THE OVERALL TENDENCY IS POSITIVE - FEARNLEYS
Handy
The Atlantic market remained stable with USG-Feast fixed around USD 17k, according to fearnleys’s weekly report.
Continent / Medite ...
Tuesday, 15 January 13
GRANT SMITH APPOINTED GROUP MANAGING DIRECTOR OF BRAEMAR ADJUSTING
The Board of Braemar Adjusting is delighted to announce the appointment of Grant Smith as Group Managing Director of the company with immediate effe ...
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- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- The University of Queensland
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
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