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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, 15 January 13
2ND MYANMAR MINING SUMMIT & OFFICIAL HOST MINISTRY OF MINES TO WELCOME OVER 200 DELEGATES NEXT WEEK
Press Release: The Ministry of Mines is hosting the 2nd Myanmar Mining Summit in Yangon on 21-24 January to unravel the local mining climate, prospe ...
Monday, 14 January 13
NEWCASTLE PORT SHIPPED 2.32 PERCENT LESS COAL W/E 14 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 3,123,312 MT of thermal and coking coal for week ended 0700 hours 14 January 2013, Newca ...
Monday, 14 January 13
THE COAL MONGOLIA - 2013 OFFICIALLY IN COOPERATION WITH TOP MINING COMPANIES
Press Release: Mongolian first mining portal site Mining.mn has already started its preparation of the International Conference “COAL MONGOLIA ...
Monday, 14 January 13
NTPC INVITES BIDS FOR 500K MT OF IMPORTED COAL
COALspot.com - NTPC Limited (formerly National Thermal Power Corporation) is the largest Indian state-owned electric utilities company called for a ...
Sunday, 13 January 13
THE FREIGHT MARKET: FAIRLY STEADY - VISTAAR
COALspot.com - The freight market was fairly steady with all the indices up with maximum gain in the Panamax segment. The BDI was up by 7.65 pct clo ...
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- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Planning Commission, India
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- The University of Queensland
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Australian Coal Association
- Altura Mining Limited, Indonesia
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