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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, 22 December 11
DRY BULK MARKET KEEPS LOSING TRACTION AHEAD OF HOLIDAY SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept retreating in the middle of the week, as charterers seem to be looking towards the holiday season and the start of the new ye ...
Tuesday, 20 December 11
THE COAL IMPORT INTO CHINA WAS QUIETER AS COAL STOCKS WERE AT HIGH LEVELS - BRS
The BDI ended the week at 1888 points (-1.8%), the BCI corrected to 3572 (-3.4%), the BPI was up at 1,775 (+3.6%), the BSI dropped to 1193 (-3.0%) a ...
Tuesday, 20 December 11
INDIA IMPORTS 66.41 PERCENT MORE COAL FROM INDONESIA LAST MONTH - SOURCES
COALspot.com: Indonesia, the world largest coal exporter, shipped 33.476* mln mt of coal in November, which is slightly higher than its Octobe ...
Monday, 19 December 11
KOPEX COMMITS ADDITIONAL ONE MILLION DOLLAR FOR PT TRANSCOAL MINERGY
COALspot.com - Mining contractor Kopex has agreed to extend a further US$1 million to finance the remainder of the expanded drill program at PT Tran ...
Monday, 19 December 11
PLN WILL NO LONGER BUY COAL FROM TRADERS
COALspot.com - Indonesia's state electricity company PT Perusahaan Listrik Negara will no longer allow traders to become their suppliers, said, its ...
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- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
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