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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
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Wednesday, 11 January 12
NEWBUILDING ORDERS DECLINE, AS SHIP OWNERS REALIZE OVERSUPPLY WILL "KILL" THEM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With 2012 now underway, it will be rather interesting to see how ship owners will play the "newbuilding ordering" card to their favor, as ...
Tuesday, 10 January 12
THE 4TH DEEPWATER ASIA CONGRESS 2012 WILL KICK OFF ON MAY 23 - 25
Press release - Based on the past three years’ success, SZ & W Group is excited to announce the 4th Deepwater Asia Congress will be held o ...
Monday, 09 January 12
2012: WHAT WILL IT BRING FOR THE DRY BULK MARKET? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A further increase in dry bulk demand could be the remedy for most of the industry's oversupply issues, together of course with the high level of s ...
Sunday, 08 January 12
ICICI OUTLOOK ON INDIAN POWER, MINING,CEMENT, AND SHIPPING SECTORS PERFORMANCE IN 2012
Broking firm, ICICIdirect (India) has come out with report on sectors outlook for 2012. IRIS has collated key highlights for each sector from ...
Sunday, 08 January 12
SUPRAMAX DELIVERY SOUTH CHINA FOR TRIPS VIA INDONESIA WERE REPORTED AROUND $ 7000 PER DAY - VISTAAR
Wish You a Very Happy and Prosperous New year 2012.
COALspot.com - The last report by us was on 16th Dec 2011 and because of holidays this would ...
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- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- The University of Queensland
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
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