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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, 29 December 12
SHIPBREAKING YARDS IN INDIA DEMOLISH A TOTAL OF 527 VESSELS IN 2012, BREAKING ALL PREVIOUS RECORDS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
India's ship demolition experts of Star Matrix contemplated this week on the issue of why ships in the range of 1,000 and up to 6,500 liquid tons ( ...
Thursday, 27 December 12
A LOOK AT WORLD TRADE PATTERNS DURING 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
While China's leaders are likely to stick with the 2012 economic growth rate of 7.5% when they chart a course for 2013 - its weakest pace since 199 ...
Thursday, 27 December 12
INDONESIA SHIPPED 33.578* MMT COAL IN NOVEMBER
COALspot.com: Indonesia, the world largest multi grade coal exporter has shipped 33.578* million tons of coal in November 2012. thi ...
Wednesday, 26 December 12
UPDATE ON EXPORT BAN ON RAW MINERALS AND ORE - RITA SUSANTO
COALspot.com - In May 2012, the Minister of Energy and Mineral Resources (“MoEMR”) in Regulation No.7 (“Reg-7”, amended by R ...
Wednesday, 26 December 12
SHIP OWNERS WRAP UP NEWBUILDING DEALS PRIOR TO YEAR END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the year inches closer and closer to its end, many ship owners are looking to close deals for newbuilding vessels they have been negotiating duri ...
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- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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