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Saturday, 24 December 11
CHINAS LEVEL OF GROWTH TO DETERMINE COURSE OF DRY BULK MARKET IN 2012 SAYS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 In its latest report, shipbroker Intermodal attempted to find a silver lining in the tough year that was 2011, as well as what one could expect from 2012, drawing the conclusion that everything points to China. According Mr. George Lazaridis from Intermodal, “only a week back, China celebrated its 10th anniversary of joining the WTO. During this period its GDP growth set new records and a country whose GDP in 1995 was on par with the Greek GDP of 2011 (!!!), it propelled itself over this past decade to becoming the second largest economy in the world.
Chen Deming, head of China's Ministry of Commerce, said recently at the eighth WTO Ministerial Conference, that China will become the world's largest importer in 2020 due to its expanding market. This may not be as farfetched as some pundits would claim, as intra-Asian trade has grown exponential over the past decade, while it was China’s internal demand that helped keep most of the Asian markets away from the problems faced in Europe and America since the financial crisis” he said.
He went on to mention that “these days however, the on-going policy of tightening and decreasing external demand, combined with decelerating investment as the fiscal stimulus unwinds, has resulted in China’s GDP growth forecasts to come off by 0,5% to (a still staggering) 9% p.a. With China playing a major role in global seaborne trade, many fear that a slowdown in its growth would immediately translate into a slowdown in demand growth for ships. Though this may turn out to be true, due to the fact that much of its industrial production is heavily reliant on importing of raw materials from far away locations, global tone-mile demand growth for most vessel types may even increase. This is based on the assumption that most of the new demand for raw materials will be covered by areas such as South America, Australia and West Africa. These trade routes carry a much higher tone-mile demand than the average route, meaning that demand for ships may increase at a faster pace than global trade volumes.
Although this may be considered a highly optimistic scenario for many in the Shipping industry, what remains certain is that for yet another year China leads the demand for seaborne trade and as such the shipping market’s prospects are closely tied for the moment to that of Chinese trade developments, for better or for worse” concluded Lazaridis.
Meanwhile, a lot could be done to help the market recover to even healthier levels of freight rates, if ship owners are willing to continue the record pace of demolition activity set during 2011. During the course of the past week, according to Piraeus-based shipbroker’s report, “the scrapping activity has shown signs of firmness this week, while scrap prices are still squeezed downwards with Bangladesh demolition ban being still in effect. The Rupee remains weak against the dollar with scrap buyers offering $465/ldt for dry/general and $495/ldt for wet cargo. Pakistan has narrowed its price gap with Alang cash buyers, but it still struggles to attract vessels for beaching. China has improved its levels by attracting this week dry units at about $400/ldt. Market rumors for a late Bangladesh market upturn do not support a prompt spike in scrap levels; whereas the recent dry euphoria do not stimulate further vessels’ disposals in the capesize segment. In the tanker market, rumors circulated in the market for two more double hull VLCCs, built 1996 and 1998, being sent for disposal by Japanese shipping giant Mitsui OSK Lines (MOL). This decision describes the dire freight market and gives an incentive for other wet operators to follow in similar movements as a step to ease the oversupply pain.
The week ended with 15 vessels reported to have been headed to the scrap yards of total deadweight 1,011,574 tons. In terms of the reported number of transactions, the demolition activity has been marked with a 114% week-on-week increase and regarding the total deadweight sent for scrap there has been a 370% increase. In terms of scrap rates, the highest scrap rate has been achieved this week in the container segment by India for M/V “MSC MAHIMA” with 16,143/ldt at $517/ldt due to decent country built, non ferrous content and vessels equipment with full spares. India has attracted 53% of the total demolition activity with China winning 4 bulk carriers and one liner unit. At a similar week in 2010, demolition activity was down by 53% from the current levels, in terms of the reported number of transactions, 7 vessels had been reported for scrap of total deadweight 575,804 tons with tankers grasping 71.4% of the total number of vessels sent for disposal. India and Pakistan had been offering $440-445/ldt for dry and $475/ldt for wet cargo, while Bangladesh market had been inactive from the demolition scene” concluded Golden Destiny.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 29 December 11
NEW VESSELS DELIVERED ARE FLOODING THE OCEANS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As expected 2011 has been the year that newbuilding deliveries peaked and kept "flooding" the market, thus supressing freight rates and er ...
Tuesday, 27 December 11
MINERS MAKE CASE FOR RESUMING CONTRACT NEGOTIATIONS - THE JAKARTA POST
The Jakarta Post reported that, problems with the renegotiation of mining contracts in the country are far from over, as agreements on several cruci ...
Tuesday, 27 December 11
COAL SHIPMENT OF TIANJIN PORT REACHED 6.72 MLN TONNES IN NOVEMBER - STEEL HOME / HELLENIC SHIPPING
Tianjin port shipped 6.72 million tonnes of coal in November, decreasing 600,000 tonnes versus 7.32 million tonnes in October, while up 21.09% or 1. ...
Tuesday, 27 December 11
NEW CLAUSE PUBLISHED FOR SLOW STEAMING - BIMCO
Many owners and operators faced with high bunker prices are considering implementing slow steaming regimes to save fuel and to assist with capacity ...
Monday, 26 December 11
NEW EXPORT TAX PLAN GREETED WITH PRAISE AND CRITICISM - THE JAKARTA POST
The Jakarta Post, one of the Indonesia's leading english news paper reported that, both praise and criticism showered the government’s plan t ...
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- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- The University of Queensland
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
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