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Friday, 31 August 12
ADVERSE SHIPPING MARKET CONDITIONS SHORTENS LIFE SPAN OF VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The adverse conditions which have been put in place in the world's freight markets, means that ship owners are forced to scrap vessels of a much younger age than before, in a reversal of the trend established during the industry's "golden years" of the past decades, when older vessels were kept in service for much longer than originally intended. In a recent report on the current demolition trends, shipbroker Intermodal noted that "since the second half of 2009 that we initially felt the big drop in freight rates, the problem of excess tonnage in the market has been top on everyone’s agenda. All parties involved in the shipping industry had voiced their concerns and agreed that demolition is going to be the only fast way to escape from the current unfavorable conditions. This meant that all the early/mid/late 80’s vessels would ideally have to head to the breakers’ yards even if they had been well maintained or had their trading certificates valid for many more years" it said.
The report from Intermodal's Panos Makrinos continued by mentioning that "four years have gone by since then and with a significant number of these 80’s built vessels having already been removed from active service, we are still facing a problem of an ever growing fleet at an extraordinary rate. It seems as though the scrapping age will continue to drop as freight levels continue to dwindle at their current unviable levels. We have already started to see several 90’s built vessels going for scrap with good examples being the two Capesize bulkers and Suezmax Tankers of ‘’FRONTLINE MANAGEMENT’’ which had been sold earlier this year to sub-continent buyers for demolition" it said.
Makrinos added that "our feeling is that if the freight market continues to have the same uncertainty and poor prospects, it will be no surprise to us if we start to see a plethora of early 90’s built vessels being as sold for demo. Let’s not overlook the fact that the average age of scrapped dry bulk vessels has dropped from 31 years seen last year down to 28 years seen in 2012. Additionally, we had mentioned in our previous report; during 2012 the active bulker fleet has grown by 6% in vessels and 8% in DWT, this means that the overcapacity problem is still there as a serious headache for all ship owners, despite the fact that more than 33.5mil tons of DWT (approximately 713 ships) have been already removed from the active fleet from the beginning of this year.
Considering the above demo figures and expected N/B deliveries within the last quarter of 2012 and first months of 2013, the only hope for the future of shipping is the magic word demolition… However, the question that arises here for one more time is whether this common thinking is indeed correct and able itself to recover the current uncertain situation, as well as for how long will demo Buyers buy vessels at attractive levels and will the current prices be able to be supported in the case that demand for steel and iron ore moves further down.
Demo prices have been fairly volatile these past couple of weeks, leaving a lot of uncertainty with regards to the direction the market will take in the medium-term. As per last done deals, demo prices in the sub-continent are currently between USD 395 - 410 per lightweight for bulkers and for tankers around USD 420 - 440 per lightweight" the report concluded.
Meanwhile, in the dry bulk markets this week, the Capesize segment "hit the ground running this week, despite a Bank Holiday in London. An injection of fresh cargo, largely down to numerous typhoons across the Pacific, was followed by a flurry of fixing on WA/China routes with the rate rising steadily since Monday morning. WA/China rates are very positional at present, with prompt tonnage achieving a reported high of usd 7.80 pmt, whilst tonnage eta 10-14 Sep has been fixing up to around usd 7.25 pmt. The Pacific RV index has improved in line with these gains, standing at usd 4,361 at the time of writing. The Atlantic has shown more tentative improvement, with some Columbian coal now moving but spot vessels keeping a lid on rates. The Atlantic RV currently stands at usd 2,950, whilst a reported usd 17.75 pmt was last done for Tubarao/Qingdao basis mid September dates" said the latest weekly report from Braemar Seascope.
Commenting on the Panamax front, it said that "Panamax Owners endured yet another week of attrition, with insufficient cargo and declining rates. Any hoped for input of fresh cargo for the Atlantic market failed to happen and looking forward, the outlook is negative with the U.S. drought situation unlikely to deliver any good news for the coming Autumn grain harvest and export programme. There are many vessels in ballast towards the Atlantic from the Pacific. The Pacific has also seen limited fresh cargo and with many spot/prompt vessels around, there is no chance for Owners to halt the further downward trend" Braemar concluded.
Source: Nikos Roussanoglou, Hellenic Shipping
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Saturday, 01 September 12
PANAMAX FREIGHT RATES UNDER PRESSURE FROM LOW DEMAND - VISTAAR
COALspot.com - This week the freight market was weak with mixed results.
The BDI was down by 1.95 pct closing at 703 points, however there was so ...
Thursday, 30 August 12
INDO-INDIA, LARGE ECO SUPRA NOW FIXED AT USD 7K FOR DELIVERY SINGAPORE - FEARNLEYS AS
Handy
The Supra market continued its negative trend with little fresh business entering the market. Continent positions fixed around USD 4k for tri ...
Thursday, 30 August 12
DRY BULK MARKET STILL LOOKING OUT FOR BETTER DAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With things in China moving slowly this week, as a result of holidays, it’s no surprise that the latest positive trend in the dry bulk market ...
Wednesday, 29 August 12
COLOMBIA'S MINING BOOM: PART TWO - JOSEPH KIRSCHKE
One of the most prominent casualties of Canada's entry into the Colombian mining sector has been a priest named Jose Reynal-Restrepo. Last Septembe ...
Wednesday, 29 August 12
COLOMBIA'S MINING BOOM: PART ONE - JOSEPH KIRSCHKE
COALspot.com - Colombia stands before one of the potentially largest, most diversified mining booms in the world. Untold reserves of gold, coal, cop ...
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- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- The University of Queensland
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
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