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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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Saturday, 12 January 13
SUB-BIT FOB INDONESIA COAL SWAPS: WEAK
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery has lost 0.32 percent WoW but CFR South China coal ship ...
Saturday, 12 January 13
HIGHER COAL PRICES: SEASONAL EFFECT
COALspot.com : Bahana Securities, one of the leading securities in Indonesia, said in its latest coal outlook that, on US and China&rsquo ...
Friday, 11 January 13
HBA HAS JUMPED BY US$ 5.80 PMT IN JANUARY 2013
COALspot.com - The Indonesian government has declared bench mark price for coal higher than December price. The monthly coal reference price f ...
Thursday, 10 January 13
PANAMAX : SOME GLIMMERS OF HOPE MID WEEK - FEARNLEYS
According to Fearnley’s weekly report, the Atlantic handy market is stable with rates around USD 11k for Cont-Feast and USD 17k bss USG/Feast. ...
Thursday, 10 January 13
DRY BULK PANAMAX MARKET HEAVILY OVERSUPPLIED, UNLIKELY TO FIND SUPPORT IN 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite positive indication for a significant surge of dry bulk demand this year, the oversupply problems of the market, will continue to weigh heav ...
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- India Bulls Power Limited - India
- GMR Energy Limited - India
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Australian Coal Association
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
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