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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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Tuesday, 14 August 12
UNCERTAIN FUTURE FOR DRY BULK PANAMAX SHIPS - DREWRY / HELLENIC SHIPPING
The dry bulk shipping market is in a poor state, with the Capesize segment the worst of all. Unfortunately, the latest analysis from Drewry Maritime ...
Monday, 13 August 12
5TH VIETNAM PORTS AND LOGISTICS 2012
Press Release - Co-hosted by VINAMARINE, the 5th Vietnam Ports and Logistics2012 will feature dedicated sessions on port and transport infrastructur ...
Monday, 13 August 12
ACTIVE DRY BULK FLEET INCREASES BY 8% SO FAR IN 2012 IN TERMS OF TONNAGE CAPACITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It’s no wonder that the dry bulk market has been tethering since the start of the year. the overflow of tonnage has been so enormous, that eve ...
Sunday, 12 August 12
COAL FREIGHT RATES FALL FLAT TO SOFT ON OVERSUPPLY, WEAK DEMAND - VISTAAR SINGAPROE
COALspot.com - The BDI continued its fall 10th August.
This week all segments were down including BDI down by 9.15 pct closing at 774 points .The ...
Saturday, 11 August 12
INDONESIAN COAL REFERENCE PRICE HAS LOST 27.78 PERCENT YOY
COALspot.com - Indonesian HBA fell again in August.
The monthly coal reference price for coal sales this month fell 3.32 percent. HBA fell ...
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- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- The University of Queensland
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
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