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Friday, 30 January 15
CAN BULKER CONVERSIONS SPOIL THE TANKER MARKET'S PARTY? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 Oversupply of tonnage has always been in the back of the head of ship owners when it comes to taking advantage of favorable market conditions. As such, whenever a particular market fares well, like has been the case for many tanker sub-segments as of late, most notably the larger tanker ship types, concerns are quickly creeping up, as more and more owners from different markets are flocking up to grab a piece of the action.
This particular period of time is no exception, with the tanker market benefiting both from a moderate fleet expansion, as well as from low oil prices which are boosting demand from non-oil producing countries. On the other hand, most dry bulk owners, especially those owning capesize bulk carriers are faring much worse. What’s even worse is that, as shipbroker Poten & Partners noted in a recent report, the dry bulk orderbook for 2015 and 2016 delivery remains high, with Capesizes expected to be hit worse than other ship types. As such, Poten raised the question of whether we could witness more conversions of large bulk carriers to Aframax or Suezmax tankers. After all, Scorpio Group announced a while back that that it had reached agreements with shipyards in South Korea and Romania to modify six newbuilding contracts for Capesize bulk carriers into newbuilding contracts for LR2 product tankers. It has been reported that several other owners are currently negotiating with shipyards as well.
According to Poten though, one should be cautious when it comes to expecting too many additional conversion of such nature to come to fruition. “For these deals to materialize a number of elements need to fall into place. Firstly, the yard needs to be able to build and have current designs for both bulkers and tankers. Secondly, these yards need to be willing to switch the order. This will probably be possible only for owners with a certain stature that have ordered a series of vessels at that yard. The shipbuilder will want to ensure that these conversions do not significantly interrupt planned construction and procurement. Shipyards are also keen to maintain their profit margins when changing from one vessel-type to the other”, Poten said.
The analyst added that as of January 1, 2015 there were some 336 Capesize bulk carriers on order. For 69 of these vessels (about 20%) construction has already started, so conversion to another vessel type is no longer an option. “Even if construction has not yet started, a switch to another vessel type is only feasible if the same yard has an existing design and a proven track record of building such vessels. A careful review of the shipyards where these capesize vessels are on order shows that out of the 38 yards only 11 are also (capable of) building similar-sized tankers. Excluding these “dry cargo only” yards removes another 104 vessels from the conversion pool”. Poten defined a Capesize bulk carriers as a vessel of at least 120,000 dwt.
Poten went on to take a look at ship owners, i.e. owners which have experience in both the tanker and the dry bulk markets, as the most likely to move forward with such conversions. According to the analyst, “the field is whittled down even further, since 113 of the Capesize vessels remaining on order are owned by dry cargo specialists. Based on the above analysis we estimate that out of the 336 Capesize vessels currently on order, about 50 ships are potential conversion candidates and a significant portion of these orders are already subject to active negotiations. More conversions will likely be negotiated, however, at the moment, we don’t expect that this development will become so widespread that it will pose an immediate threat to the health of the tanker market”, Poten concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 30 January 15
U.S. YEAR-TO-DATE COAL PRODUCTION REACHED 65.7 MMST
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.9 million short tons (mmst) of coal ...
Thursday, 29 January 15
CHINA ENERGY DEMAND MUST BE REVIEWED DUE TO FUNDAMENTAL ECONOMIC CHANGES - WOOD MACKENZIE
New patterns emerging as energy demand growth decoupled significantly from GDP growth for the first time in 2014
Wood Mackenzie says 2014 was ...
Thursday, 29 January 15
CAPE MARKET IS STILL STRUGGLING WITH LOW DEMAND AND LOW COMMODITY PRICES
Handy
Supramax rates are heading south with slipping rates all across the block. USG activity is slow with mid-week levels in the mid 8.000s, Fea ...
Wednesday, 28 January 15
MARKET INSIGHT - STELIOS KOLLINTZAS
With most traders having returned to action from year end festivities, we have already seen signs of activity in the specialized product markets. L ...
Wednesday, 28 January 15
CAPES CONTINUED THEIR UPWARD MOVEMENT LAST WEEK - INTERMODAL
COALspot.com: The Dry Bulk market displayed a mirror performance of that of the week prior, with the Capesize market correcting further upwards and ...
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- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Planning Commission, India
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