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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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Tuesday, 04 December 12
NEWCASTLE PORT SHIPPED 55.88 PERCENT MORE COAL W/E 3 DECEMBER 2012
COALspot.com - Newcastle port in Australia has loaded 2,796,341 MT of thermal and coking coal for week ended 0700 hours 3 December 2012, Newca ...
Sunday, 02 December 12
YEAR 2013, YEAR OF SUPPLY OR DEMAND?
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1 2013 delivery gained 2.87 & 0.83 percent MoM and WoW respectively ...
Saturday, 01 December 12
TIGHT SUPPLY, DEMAND PUSH INDO-INDIA SUPRAMAX FREIGHT RATES HIGHER - VISTAAR
COALspot.com - The freight market was mixed this week as cape and Panamax indices are closing softer.
The BDI was down 0.37 pct closing at 1,086 ...
Friday, 30 November 12
FUTURE TREND OF SECOND HAND SHIP VALUES PUZZLING SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
One of the major challenges that ship owners are facing today is whether or not to invest in a second hand vessel at any given time. For instance, i ...
Friday, 30 November 12
IS INDONESIAN COAL INDUSTRY DEPENDS HEAVILY ON INDIA AND CHINA?
COALspot.com: Indonesia, the world largest multi grade coal exporter, shipped 35,143,587* tons of coal in October 2012. October exports are 19 ...
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- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Australian Coal Association
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
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