We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Thursday, 29 December 11
NEW VESSELS DELIVERED ARE FLOODING THE OCEANS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 As expected 2011 has been the year that newbuilding deliveries peaked and kept "flooding" the market, thus supressing freight rates and eroding any chance of recovery for the shipping sector. In its latest weekly report, shipbroker Intermodal said that in the dry bulk sector "we witnessed a formidable fleet growth level this year as the excess in new orders placed over the past couple of years entered into service. At the time of writing new deliveries had reached 1,094 vessels (equivalent to 94.65 million DWT) which is a new record passing the previous set in 2010 by 174 vessels. At the same time scrapping was also excessive, as we saw 388 vessels head for the breakers’ yards during the year. This is significantly higher than the 262 bulkers scrapped last year, while in deadweight terms it’s more than double what we saw in 2009 and 2010 put together. Despite this, year-on-year fleet growth managed to reach around 12%" said Intermodal.
Similarly in the tanker sector, as Intermodal’s George Eliades mentioned, “things seemed more manageable, as we witnessed a more moderate growth rate this year which is set to reach close to 4%. Having said that however, it is important to note that most of the vessels scrapped were smaller tankers, while in terms of deliveries we witnessed 63 VLCCs hit the water. This averages to just over 5 vessels every month. Being a sector which has already been plagued by an oversupply of vessels, this increase in tonnage, consequently put further downward pressure on the market. Indication of this was not only witnessed in the freight market but was also seen in the demolition market these past months were we saw relatively young double hull VLCCs head for the breakers’ yards” said Eliades.
In a separate report last week, DVB Bank had said that the crude oil tanker fleet, despite the number of mass deliveries, the current orderbook still represents over 18% of the fleet in deadweight terms. An additional problem is that most of the fleet is young, with 70% estimated to be less than 10 years old, while less than 4% is more than 20 years old. This poses a serious issue, as it’s quite hard for a ship owner to scrap a vessel of just 15 years old, thus rendering the option of scrapping to alleviate oversupply problems as impossible to look at. In total, during 2011, DVB estimated that 172 vessels came in the market, resulting in a net increase of 94 vessels, as 35 vessels were converted and others were scrapped altogether. According to DVB, it is essential that scrapping of double hull vessels is increased significantly and that all vessels older than 15 years should be considered as plausible scrapping candidates.
What’s even more scary is that on top of the 186 vessels delivered in 2010 and the 172 vessels delivered so far in 2011, a further 324 tankers of 62.9 mio dwt are scheduled for delivery before the end of 2013. “Given the current market fundamentals for the Crude Oil Tankers, even if we factor a 25% discount on the Orderbook due to slippage, postponements and cancellations due to financing difficulties, refund guarantees, etc Newbuilds entering the fleet by the end of 2013 will still represent a 12.8% increase over the current fleet in dwt terms (243 vessels of approximately 47.2 mio dwt)” concluded DVB.
Continuing on the Container and Gas sectors, Intermodal said that “we witnessed a more moderate growth in fleet size this year, mainly due to the modest newbuilding ordering that took place since the start of the financial crisis in late 2008. Nevertheless, it was only the Gas carrier sector that was able to maintain a more bullish atmosphere in the chartering market, largely thanks to the still increasing demand for cleaner energy sources. The Containers which are still heavily dependent on end consumers in Europe and America have had to deal with a moderately decreasing demand especially on the long-haul routes.
While this year has seen a significant number of both deliveries and scrapping take place, 2012 is set to be another record breaking year. We have an extraordinary number of vessels scheduled for delivery while demand for further tonnage is not expected to increase as rapidly. In essence and in spite of the recent stall in increasing demo prices, scrapping is expected to be considerable as the newly delivered tonnage take preference amongst the relatively few charterer inquiries, pushing older vessels to head to head for scrapping sooner then would be expected” concluded the shipbroker.
Source: Nikos Roussanoglou, Hellenic Shipping
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Tuesday, 24 January 12
BUKIT ASAM FY11 NET PROFIT SURGES 50% - INSIDER STORIES
Insider Stories reported that, the state-controlled PT Bukit Asam Tbk (PTBA) estimated to book Rp3 trillion (approximately US$ 335,570,469) net prof ...
Sunday, 22 January 12
FREIGHT MARKET DROPPED TO THE LOWEST LEVEL SINCE 2008
COALspot.com - "The markets continued to soften almost reaching 2008 levels breaking the 1,000 point mark", said Capt. Reddy of Vistaar Sh ...
Saturday, 21 January 12
ASIAS PREMIER COMPREHENSIVE OPEN CUT MINING CONFERENCE SCHEDULED FOR FEBRUARY 2012
As the only such conference in the region for miners and service providers, IBC Asia’s Open Cut Mine Planning & Operational Excellence con ...
Saturday, 21 January 12
COAL MARKETS CELEBRATES A DECADE OF BRINGING BUYERS & SELLERS TOGETHER
In 2012, IBC Asia’s premier Coal Markets conference series – Asia’s only globally focused coal import, export and supply chain eve ...
Saturday, 21 January 12
SAMIN TAN COMPLETES BUMI PLC TAKEOVER - INSIDER STORIES
Insider Stories reported that, Indonesian coking coal miner PT Borneo Lumbung Energi & Metal Tbk (BORN), that is controlled by stellar businessm ...
|
|
|
Showing 4876 to 4880 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Australian Coal Association
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- The University of Queensland
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Planning Commission, India
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
|
| |
| |
|
