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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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Sunday, 25 December 11
THERMAL COAL PRICES GAINED UP TO 4.32 PERCENT
COALspot.com - globalCOAL index gained 4.32 percent to US$106.36 per ton in RBCT, benchmark for South Asia and West Europe markets, for the week end ...
Friday, 23 December 11
SPOT PACIFIC CAPESIZE VESSELS HAVE COMMANDED HIGH PREMIUMS - FEARNLEYS
Handy
Rates in the Atlantic kept stable from last week, with a touch of negativity closer to the end. Less spot cargoes seen, and owners are ...
Friday, 23 December 11
CONTENTIOUS ISSUES IN CONTRACT RENEGOTIATION - THE JAKARTA POST
The government has been renegotiating mining contracts, especially those 30-40 years old, with almost all mining companies, including PT Freeport In ...
Friday, 23 December 11
LANCO JOINS HANDS WITH BUKIT ASAM FOR INDONESIAN POWER PROJECT
COALspot.com - PT Tambang Batubara Bukit Asam, Indonesia's state owned coal miner and Indian based Lanco Infratech Ltd plans to build steam power p ...
Thursday, 22 December 11
RI WILL NOT PLAY CATCH-UP WITH GLOBAL COAL DEMAND - THE JAKARTA POST
The Jakarta Post reported that, the International Energy Agency (IEA) has predicted in its Coal Market Report 2011 that over the next five years, gl ...
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- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
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