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Strong confidence in
the short and medium term tanker markets
Ordering of new vessels has multiplied
Fearnresearch, the research department of Norwegian
shipbrokers Fearnleys, predicts in the second edition of its “Oil and
Tanker Market Quarterly” the tanker market to remain strong in the short
and medium term. Present market conditions are more favorable now than
they have been for a long time. At present, these markets seem to be
coming on quite strongly. Owners are experiencing improved cash flows,
ordering of new vessels has multiplied and scrapping is being reduced to a
minimum. Although peaks in the tanker market tend to be short-lived, the
present market settings and factors at play indicate that the recent
upturns of these markets will last for some time.
Time charter rates are catching up
Recent spot market rates for crude oil tankers have
given much better returns than obtainable time charter rates. However, the
time charter rates are gradually catching up. Present time charter rates
are well above what is required to service the capital investment in
tanker vessels; that is if freight income can be maintained at the same
level for the rest of the vessel’s lifetime. Second-hand prices are
under strong upward pressure and very modern vessels are presently
obtaining higher prices than new buildings. This illustrates the present
strength of the crude freight market. Furthermore, it serves a strong
indication of what possibilities may lie ahead. The market for product
carriers has improved too, although not as much as for crude carriers.
Limited tonnage supply
There are several reasons why the tanker market appears
much more robust this time than in previous peak periods. A large number
of mid-1970’s vessels are still around, having to face regulations and
general quality concerns. Their operational future will necessarily have
to be limited, even though present rate levels will delay scrapping.
Very little additional capacity can be provided from
lay-up or slow-steaming. In general, the tonnage supply is very limited.
This situation is expected to prevail over the next couple of years before
a more rapid growth due to recent orderings will be experienced. The
present tanker fleet is expected to grow by about 1% during the second
half of this year. For the next two years, expect increases of 1.3% in
2001 and 2.6 in 2002.
More upsides than downsides regarding tonnage demand
The tonnage demand appears much more uncertain,
although in the short and medium term, there appear to be more upsides
than downsides. Low oil stocks and OPEC’s concern about future market
shares indicate temporary growth in shipped volumes.
Fearnresearch expects the demand for crude tankers to
increase by about 3% this year and by further 1.7% next year. For
comparison, the fleet over 50,000 dwt is expected to increase by only 1.0%
this year and 1.4% next year. Fearnleys is more optimistic about the
tonnage demand development in the oil products segment than some other
market observers and estimates growth rates of about 3.5% in both 2000 and
20001. The fleet growth will be significantly less due to a modest order
book. The fleet of tankers 10-50,000 dwt is expected to increase by 1.7%
this year and only 0.6% next year. Although an increasing share of oil
products are shipped by vessels over 50,000 dwt, the product carrier fleet
utilization should improve.
In the longer term, the high price of oil will
accelerate the need for an alternative supply of short-haul oil as well as
more competition from gas and coal. Also, conservation efforts will be
encouraged, with less use of oil per GDP. But these developments will
require some time to have any substantial market impact. In the meantime,
the tanker market will be prosperous.
Investors tour Hemaraj
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Ms. Parisada
Thonviseskul, Hemaraj’s marketing manager, and Chuksak
Sanguanruang, managing director of General Seating (Thailand) Ltd.
welcomed a group of potential investors. |
The Industrial Estate Authority of Thailand (IEAT) led
a group of investors from different foreign embassies and representatives
from The Ministry of Foreign Affairs, Thailand on a tour of the Eastern
Seaboard Industrial Estate (Rayong), which was developed by Hemaraj Land
and Development PLC. The group toured the facility on a feasibility study.
The group also visited the General Seating (Thailand) Co., Ltd.’s
factory.
Thai Airways offering
special prices on the web
Effective August 1, Thai Airways International are
promoting their web site by offering specially reduced prices for seat
reservations made through their web site (www.thaiairways.com). The offer
includes both domestic and international flights in economy class.
A round trip ticket reserved on the web site from
Bangkok to Chiang Mai on TG 123 and 124, for example, has been reduced
from 3,740 baht to 3,000 baht. Bangkok to Phuket on TG 201 and 202 has
been reduced from 4,540 baht to 3,600 baht.
Overseas flights include special fares to Brunei, South
Korea and Australia, with special rates on certain flights and days of the
week at A$760 (Australian dollars) from Perth. A round trip ticket from
Bangkok to Danang has been reduced to US$285 (US dollars).
BADco goes online
Pioneers unique web development techniques in Asia
BADco Asia, Thailand’s leading database company has set up
an Internet division with pioneering features for the Asian market.
The Bangkok-based company, which boasts the most
comprehensive databases in Thailand, has set up BADco-Asia.com, a division that
can offer a full range of Internet website development, internet strategy and
online marketing services using cutting-edge technology.
The company’s vital experience in data management, combined
with truly interactive solutions and programmes to ‘talk’ to the customer,
mark it out as a pioneer in Asia.
“Our company has recognised that the Asian market offers an
opportunity for a company offering the latest techniques to drive sales from
websites and make it a truly functioning part of a company’s business plan.
The services and techniques that we can offer are very much under-utilised in
Asia,” says Rodney Bain, managing director of BADco Asia.
“Too many companies want a web and management presence but
do not understand how to integrate their web site to become a functioning,
interactive marketing tool for their business. With our applications, we can
show them how,” adds Bain.
The company boasts a wealth of services including active
server pages, e-commerce development and web persuasion techniques.
David Jiles, Chief Technology Officer at BADco Asia, says,
“There are many e-companies focusing on small static web sites that do not
enhance sales. BADco-asia.com is a results-driven company that offers clients
proven cutting-edge alternatives.”
A major ingredient of the company’s strategy is active
server pages (ASP). This technology turns the website from a “vanity site”
into an intelligent site, turning visitors into customers.
ASP technology makes a website dynamic, intelligent and
interactive. Some of the many benefits include inducing motivated actions,
identification of the site visitor, and tailoring the content and design for
each individual visitor.
As well as the technology, Jiles believes the company’s
psychological techniques in web design will revolutionise the Thai market.
“No other web development company in Thailand seems to be
interested in the development of web persuasion techniques in their designs.
These fundamental techniques provide the capability for a website to motivate a
specific audience to take a specific action. That action can be in the form of a
response or even in a sale.
The company expects this marketing advantage to bring them
over 100 corporate clients by the end of the year, with a major focus on the
high-end database driven sector of the market.
This kind of website development is more expensive than a
conventional static website but Jiles points out that very few static websites
deliver any actual sales for the company.
“Our clients recognize that this expenditure is an
investment, rather than an expense. They want tailor-made tasks that suit their
specific needs. The results close the gap between success and failure.”
With a recent report estimating that the US market for ASPs,
web hosting and application outsourcing at close to $US10 billion, there is
going to be a major opportunity in Asia and that’s where Badco-Asia.com
intends to get a head start.
“We believe we have unique products in this market and we
aim to take companies’ traditional offline activities online. This is the way
forward and the industry needs to be prepared for a paradigm shift,” says
Bain.
Selection panel selects
names for director position at Laem Chabang Port
The Port Authority of Thailand’s selection panel is
preparing to submit the names of three persons from a list of nine for the
position of port director in Laem Chabang by the end of this month.
The chairman of the selection panel, Anothai Uthanesut
disclosed that four of the nine names nominated for the position were from
within the Port Authority of Thailand and the remaining five were outsiders. The
panel examined the written applications and awarded points according to
suitability for the position.
The four applications examined from within the Port Authority
of Thailand administration consisted of Miss Pankae Chunnanon, the deputy
director of the administration section, Surajit Phecharayim, deputy director of
the technical section, Anant Pimsen, deputy director of the Bangkok Port, and
Yaworapoj Supanakul, deputy director of the Laem Chabang Port. All persons did
not apply for the position on their own but were considered suitable for the
position by the Port Authority of Thailand and were subsequently nominated for
review along with the other applications.
The main details examined by the panel were submissions
identifying the nominee’s views and objective opinions for administrating Laem
Chabang Port in the next five years, and what key factors are necessary to
develop the port.
The remaining five applications examined were from
individuals from shipping related fields and construction, such as Apichai
Teja-ubon, chairman of the Thai Fa Group, who is the person expected to receive
the position.
The former director at Laem Chabang, Peerapol Triwatana,
resigned last June after being accused of falsifying education records.
TNT Express launches
secure electronic document service to add instant delivery to express
portfolio
The first product of its kind in Thailand
TNT, the global express carrier, has launched securEdoc,
secure express delivery over the Internet. SecurEdoc is the instantaneous
and secure electronic alternative to express document delivery and
strengthens TNT as the fastest and most reliable provider of express
delivery services.
The new product has been launched internationally as TNT
Express targets large predicted growth in demand for the use of email and
secure email services. By 2002 it is estimated that the global email market
size will be 7.9 billion messages a day, with a potential market value for
electronic document distribution of US$10 billion by the end of 2001.
The securEdoc electronic document technology has been
developed by TNT Express in partnership with leading US software company,
NetEx, and is operated through a dedicated web site at
www.tnt.com/securedoc. The service not only dramatically reduces the
delivery time and cost of physical distribution but also overcomes the
limitations of using standard email packages. As well as providing a high
level of encryption (128-bit), securEdoc does not have document or file size
restrictions. SecurEdoc software enables bulky graphics, text and
attachments to be sent at high speed. The capability for secure archiving on
the website also means that a customer can access saved files anywhere in
the world simply from a computer with Internet facilities.
Winfried Kiesbueye, Thailand’s country general manager
says, “Customers in our marketplace demand convenience, fast service and
reliable delivery. At its most simple level securEdoc is an instant delivery
service. What we have introduced is the fastest secure way to send a
document and the most efficient confidential form of archiving. Our service
is free for the first megabyte per month and offers a brand new
value-for-money method of sending documents. For TNT, this is a natural
progression in reducing transit times - from two-day to overnight to same
day services - and achieves our goal to offer customers the fastest and most
reliable service.”
To use the service, customers register on the website to
set up a securEdoc account and then select from three service levels for
each delivery depending on the confidentiality of the document: Standard
Service - only the sender needs to register Business Service - both sender
and recipient need to register for added security.
Executive Service - the maximum level of security. In
addition to being registered both the sender and receiver need personal
digital certificates (user ID and password protected) issued by TNT before
using the service. Access to the documents is only available using the
certificate.
For each delivery the document is sent to the securEdoc
web server by the sender and held pending retrieval by the receiver. The
recipient is then immediately notified and can retrieve the document from
the server.
For customers’ convenience securEdoc is completely
compatible with existing e-mail programmes via Lotus Notes and Microsoft
Outlook plug-ins. A document or file can be sent either via email or
securEdoc simply by clicking on the relevant icon on the toolbar. Recipients
can be notified of the securEdoc arrival by email, fax or phone. The
document is then retrieved from the secure website server. At no stage is it
sent directly to the recipient and this process ensures the document is
safely encrypted at all stages through to retrieval.
TNT has designed securEdoc for frequent usage with the
rates based on megabytes sent or saved per month. The first megabyte is
free.
The securEdoc fast and secure transmission is available
at a price that is extremely competitive with other less reliable or slower
forms of delivery. The product is a logical service extension to the fast
and reliable physical distribution services already provided by TNT. The
company is targeting companies in the legal, financial, IT and media sectors
where there are demands for regular distribution of documents, issues of
confidentiality, or the need to send large electronic files.
Copyright 2000 Pattaya Mail Publishing Co.Ltd.
370/7-8 Pattaya Second Road, Pattaya City, Chonburi 20260, Thailand
Tel.66-38 411 240-1, 413 240-1, Fax:66-38 427 596;
e-mail: [email protected]
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