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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, 25 August 12
INDONESIAN COAL SWAP REMAINS STABLE AT LOW LEVEL
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery gain 0.804 percent W-o-W on Friday (24 August 2012) closing but lost 0. ...
Thursday, 23 August 12
INDONESIA-INDIA, LARGE ECO SUPRA FIXED AT USD 6K FOR DELIVERY SOUTH CHINA - FEARNLEYS AS
Handy
The market continued the same trend as last week, low activity and holidays in some countries.
Rate wise unchanged, with US Gulf/Continent ...
Thursday, 23 August 12
EGCO GROUP EXPANDS TOWARDS INTEGRATED ENERGY BUSINESS WITH INVESTMENT IN INDONESIAS COAL MINE
Electricity Generating Public Company Limited or EGCO Group, the Thailand’s first Independent Power Producer has continually invaded foreign m ...
Thursday, 23 August 12
EGCO GROUP ANNOUNCES 2 BILLION BAHT PROFITS IN Q2/2012
Successfully Establishes Integrated Energy Business and Strengthen Investments in ASEAN
Mr. Sahust Pratuknukul, President of Electri ...
Monday, 20 August 12
CHINESE COAL SWAPS RISE, INDONESIAN COAL CONTRACTS SOFT
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery lost -2.05 percent W-o-W on Friday (17 August 2012) closing but gained ...
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- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- The University of Queensland
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Trasteel International SA, Italy
- Planning Commission, India
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- The Treasury - Australian Government
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- PTC India Limited - India
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
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