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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, 17 December 12
SHIP PRICES TO BOTTOM OUT IN 2013 SAYS GEORGE D. GOURDOMICHALIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship values especially in older tonnage, or even modern vessels with poor quality are expected to fall further during 2013, with the market as a who ...
Monday, 17 December 12
SYNERGISING WITH PIONEERS TO DEVELOP TOMORROW'S LATIN AMERICAN RAILWAYS
Press Release: Brazil being one of the largest country in South America has one of the most dynamic rail markets in the world. Rail transport in Bra ...
Sunday, 16 December 12
FREIGHT TREND SOFTENED THIS WEEK - VISTAAR
COALspot.com - The freight market further softened this week and closed at 784 points (down by 18.84 pct). The cape index had the biggest fall ...
Friday, 14 December 12
GMR GROUP OF INDIA TO IMPORT 100K MT OF 4800 GAR COAL
COALspot.com: GMR Group of India to invite bids for 100,000 Metric Tons of imported non coking coal to be delivered during January and February 2013 ...
Thursday, 13 December 12
HANDY : WCI-CHINA RATES AROUND $ 6000 AND ECI-CHINA AROUND $ 4000 - FEARNLEYS
Handy
Atlantic market remained unchanged. Rates from USG to Feast were around USD 18k and Black Sea to Feast about USD 10k. USG-Skaw-Passero rates ...
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Showing 4461 to 4465 news of total 6871 |
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- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- The University of Queensland
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
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