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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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Monday, 24 December 12
CONSTITUTIONAL COURT DECISION MAY FURTHER DELAY THE ISSUANCE OF NEW MINING BUSINESS LICENCES - TJEN SHE SIUNG
COALspot.com - In November 2012 the Constitutional Court of Indonesia issued a decision on amendments to certain provisions under the Mining Law No. ...
Monday, 24 December 12
BUNKER PRICES TO CONTINUE RISING, ALBEIT IN A SLOWER MODE, DURING THE NEXT FEW YEARS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEW
In a recent report, US-based consulting firm Mcquilling Services attempted to forecast the course of bunker prices during the next few years, as thi ...
Sunday, 23 December 12
Q4' 2013 CFR SOUTH CHINA COAL SWAP, US$ 3.40 HIGHER COMPARED TO Q1' 2013 PRICE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery gained 1.94 percent M-M and WoW by 1.57percent but lost 0.35 ...
Saturday, 22 December 12
SECOND HAND VESSELS ENJOY HIGH DEMAND AS PRICES ARE ATTRACTIVE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the year is closing to its end, activity in the second hand vessel market has been more than high. Ship owners are looking to ...
Saturday, 22 December 12
FALL IN CAPE AND PANAMAX RATES DRAG BDI INDEX - VISTAAR
COALspot.com - The freight market further softened this week closing at 700 points (down by 10.71 pct). The cape index continued to fall and w ...
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- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
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