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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, 14 December 11
MINER TOBA BARA SEJAHTRA PLANS IPO IN 1ST HALF OF 2012 - THE JAKARTA GLOBE
The Jakarta Globe reported that, Coal miner Toba Bara Sejahtra is aiming high next year, hoping to capitalize on renewed bullish sentiment in the lo ...
Wednesday, 14 December 11
TIMAH PLANS TO BOOST ITS COAL PRODUCTION TO TWO MILLION TONS PER ANNUM - SOURCES
COALspot.com - Timah plans to boost its coal production to two million tons per annum. The company also expects to acquire coal concession with mini ...
Wednesday, 14 December 11
BORNEO RESOURCE INVESTMENTS LTD. FINALIZES ACQUISITION OF INTEGRA PRIMA
COALspot.com - Borneo Resource Investments Ltd., announced that it has finalized the acquisition of an additional 1,300 hectare coal mining concessi ...
Tuesday, 13 December 11
BERAU COAL SCOUTS US$1.61 BIO SALES - INSIDER STORIES
Insider Stories reported that, coal mining company PT Berau Coal Energy Tbk (BRAU), that is 85% owned by London-listed company Bumi Plc, estimates a ...
Tuesday, 13 December 11
CAPESIZES AND PANAMAXES LEAD DRY BULK MARKET HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched closer to the 2,000 mark on Monday, with Panamaxes rebounding firmly and leading the gains. As a result, the industry&rsq ...
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- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
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