We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Saturday, 26 May 12
DRY BULK SHIP OWNERS LOOKING TO CUT BACK ON TONNAGE SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The oversupply of dry bulk carriers has been the most prominent problem in the market today, pushing down rates and ‘strangling’ profitability. According to ICAP Shipping congestion of the dry bulk fleet at Australian, Brazilian, Indian and Chinese ports at the end of last week was just above the 60Mdwt mark. "This is the highest level we have seen for thirteen weeks (since the middle of February this year) and is equivalent to around 10% of the total fleet. Interestingly, congestion has risen across all of the sectors from Capesize to Handysize. Capes currently account for 37.7Mdwt of the total queuing at ports, growth of over 7% week-on-week, while Panamaxes account for around 11.8Mdwt, growth of just under 9% w-o-w. Interestingly the largest percentage increases in congestion were for Supramax and Handysize, where on a w-o-w basis it rose by 15% and 25% respectively.
Nevertheless, in terms of deadweight these two sectors combined still accounted for less than total Panamax congestion. Provided all other factors remain unchanged, increased congestion at ports should provide some support to freight rates based on simple supply/demand dynamics; specifically a tightening of tonnage supply" said ICAP Shipping.
In its latest weekly report, shipbroker Intermodal noted that 2011 was a fairly disappointing year for shipping, with a tremendously large mismatch between supply and demand for the dry bulk segment in particular. “This affected both market prices and freight rates which fell close to some of the lowest levels recorded. Prices for tonnage older than 15 years of age reached fairly close to the residual value of the vessel itself (its value in terms of steel). It has been widely regarded in the whole shipping community that the only solution would be to scrap all vessels built prior to the 90's. As a result there has been an immense surge of older tonnage heading towards scrapyards in Bangladesh, China, India, Pakistan and Turkey. During the same period last year 17.8m deadweight has left the world fleet providing the markets with 3.5m tonnes of steel. By the end of 2011 the total amount of carrying capacity sent for scrap had reached 44.2m dwt which is equivalent with 8,7m tonnes of steel. Unfortunately and despite the evident efforts to reduce the fleet size, the large order book kept the supply of vessels on the rise. Around 1,125 dry bulkers (above 20,000dwt) were delivered during 2011, while at the same time only 339 dry bulkers (above 20,000dwt) were sent for scrap” said Spyros Stavropoulos, Intermodal’s analyst.
He went on to mention that “the first five and a half months of 2012 have shown positive signs, as demolition volume has been higher than that seen during the same period last year. Up to now, 25.8m dwt of vintage tonnage has been subtracted from the world fleet, albeit the fall in demolition price levels noted during the past weeks. These encouraging numbers are showing that the shipping community is committed to reducing the world fleet. An example of this temperament are the Capesize bulkers being sent for demolition which are defying the slide in ship scrapping prices”.
Meanwhile, “South Asian yards are well stocked as the subcontinent’s monsoon season approaches, while weakening steel demand in China has made its yards cut back on purchases. Prices in South Asian yards have dropped to $440-445 per ldt for bulkers and $465/ldt for tankers, from $450/ldt and $475-490/ldt the previous week. Chinese yards’ offers are unchanged at $390/ldt for bulkers and $415/ldt for tankers. But that did not stop owners from sending their ageing Capesizes for recycling, amid a still-depressed freight market. Big ships and vessels with rich stainless steel content continued to outperform the ship recycling market. With rates falling by the day, it is advisable for owners to decide the fate of their vessels quickly and take the best price/buyer available, as otherwise they may find themselves chasing down the market.
The drop in prices is explained by the oversupply of demo candidates which has led to an only natural drop in scrap steel prices. We can only hope that the levels of demolition seen so far this year for dry bulkers continue and that a significant amount of the large order book of 1,219 dry bulk vessels scheduled for delivery in the remaining period of 2012 is not fulfilled” Intermodal concluded.
Intermodal had noted that "Hellenic ship owners still occupy the top position amongst buyers in the secondhand S&P market. In its latest report, Intermodal mentioned that “since January they have managed to pick up at least 70 vessels spending over $ 1.2 billion to do so. This is a large difference when compared to the Chinese which hold second place amongst buyers’ nationality, with only 42 vessels reported purchased so far and having spent less than half the amount of that spent by the Greeks. This is even more remarkable when one considers the general lack of financing observed in shipping, let alone that available in the now illiquid Greek market”. In his note, Intermodal’s George Lazaridis stated that “all this points to the fact that Greeks continue to hold a firm belief in the shipping markets, as many of have an extensive experience of the market cycles and are used to navigating through such troubled market conditions. This does not mean that all is well and that there haven’t been or aren’t going to be casualties along the way. After all these cycles provide a cleansing opportunity, removing mismanaged companies and owners while at the same time pushing market players to remain competitive and efficient in the service they provide" he mentioned in a relative report.
Source: Nikos Roussanoglou, Hellenic Shipping
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Saturday, 12 May 12
THE SHIPPING MARKET IS UNLIKELY TO SEE A REBOUND ANYTIME SOON - VISTAAR SINGAPORE
COALspot.com - The BDI softened this week and it was down by 1.64 pct closing at 1,138 points.
The cape index was up by 2.41 pct closing at 1,61 ...
Friday, 11 May 12
POLITICAL CHANGES COULD LEAD TO TEMPORARY HALT IN SHIPPING INVESTMENTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The potential of changes of political leadership in many of the world’s leading economies could very well lead to significant shifts in the di ...
Thursday, 10 May 12
DRY BULK ERRATIC ON LACK OF DIRECTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept up its erratic behavior as it went down again during yesterday’s session, on a lack of direct guidance in terms o ...
Wednesday, 09 May 12
COAL INDIA SIGNS FSAS WITH 13 POWER UNITS SO FAR - PTI
Press Trust of India has reported that, coal India has so far entered into fuel supply pacts with 13 power units, including Reliance Power's Rosa P ...
Tuesday, 08 May 12
DRY BULK MARKET LOOKING FOR NEW DIRECTION THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the BDI (Baltic Dry Index) the main benchmark of the dry bulk shipping industry not traded at the start of this week, traders, charterers and s ...
|
|
|
Showing 4731 to 4735 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
|
| |
| |
|
