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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, 05 January 13
THE SHIPPING MARKET IN 2012 AND LOOKING FORWARD - BIMCO
Global Economy: Things will go up from here
The global economy continues to grow, albeit at a slower pace than previous years. The slower economic ...
Friday, 04 January 13
DRY BULK MARKET LOOKING FOR DIRECTION IN FIRST TRADING DAYS OF THE NEW YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market is actively looking for its footing at the start of the New Year, as charters have been scarce, as is usually the case during th ...
Thursday, 03 January 13
INDONESIAN SUB-BITUMINOUS COAL SWAPS CLOSED US$ 6.86 HIGHER FOR 2014 DELIVERY
COALspot.com - Swaps prices were changed positively for thermal coal for loading in the first quarter from Indonesia, according to SGX AsiaClear OTC ...
Thursday, 03 January 13
SUPRMAX FREIGHT RATE FROM RED SEA / INDIA IS AROUND MID TEENS - FEARNLEYS
Fearnleys in its weekly report said that, Indian market was very quiet in respect of export of iron ore. For Indo-India trip Supra rate was hovering ...
Thursday, 03 January 13
DRY BULK DEMAND TO KEEP RISING IN 2013, DRY BULK SHIP PRICES TO KEEP FALLING SAYS ANALYST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In a recent report on the future of the shipping markets, DVB bank said that dry bulk demand is expected to keep on growing in the coming years, mai ...
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- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Planning Commission, India
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Parliament of New Zealand
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
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