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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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Wednesday, 12 December 12
69.23 PERCENT OF END-USERS ARE BELIEVE, COAL PRICES ARE IN UPWARD TREND
COALspot.com - The Indonesian government’s declared coal reference price for December’ 12 has gained US cents 31 per MT M-o- ...
Wednesday, 12 December 12
CAPESIZE FREIGHT RATES TO RANGE BETWEEN $9,000 - 16,000/DAY IN THE COMING WEEKS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In its regular update on the dry bulk market, BIMCO forecasted yesterday, that Capesize time-charter rates are expected to stay elevated in the foll ...
Tuesday, 11 December 12
NEWCASTLE PORT IN AUSTRALIA HAS LOADED 2,720,205 MT OF COAL W/E 10 DECEMBER 2012
COALspot.com - Newcastle port in Australia has loaded 2,720,205 MT of thermal and coking coal for week ended 0700 hours 10 December 2012, Newc ...
Sunday, 09 December 12
COAL SWAPS HAVE LOST DIRECTION DUE TO LACK OF ASIAN INTEREST
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery gained 2.43 percent M-M but lost WoW by 0.54 percent and 0.62 ...
Sunday, 09 December 12
LOW DEMAND PUSHES CHARTER RATES TOWARDS DOWN - VISTAAR
COALspot.com - The freight market has softened and BDI, The Baltic Dry Index, a measure of shipping costs for dry bulk goods, plunged below 10 ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Australian Coal Association
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- MS Steel International - UAE
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
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