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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, 08 January 13
HOLIDAY ACTIVITY SCARCE IN THE MARKET OF SECOND HAND VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Although the market for second hand vessel purchasing was quite lull during the Holiday period, as is usually the case, the first days of the New Ye ...
Tuesday, 08 January 13
NEWCASTLE PORT SHIPPED 3.197 MILLION MT OF COAL W/E 7 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 3,197,580 MT of thermal and coking coal for week ended 0700 hours 7 January 2013, Newcas ...
Sunday, 06 January 13
CFR SOUTH CHINA COAL: 2014 DELIVERY CLOSED US$ 6.80 HIGHER THAN Q1 '13 PRICE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery has gained 0.37 percent WoW and CFR South China coal sh ...
Sunday, 06 January 13
COAL BOOM: WAKE-UP CALL FOR INDIA & INDONESIA! - SUNIL K KUMBHAT
COALspot.com - Coal Boom : Scenario, Now & later!
Coal has been the dominant fuel for power generating plants in developed countries since th ...
Sunday, 06 January 13
FREIGHT MARKET REMAINED FAIRLY STEADY - VISTAAR
WISH YOU ALL HAPPY NEW YEAR
COALspot.com - The freight market remained fairly steady in spite of Christmas / New Year Holidays. The BDI was almos ...
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- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
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