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Friday, 09 March 12
SHIP OWNERS LOOKING TO CHINA FOR REVIVAL, WHILE THEY KEEP SELLING OLD SHIPS FOR SCRAP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 With China’s economic policy plan for the future on every ship owner’s mind, at least those involved in the dry bulk industry, the latest news that China’s Premier, Wen Jiabao announced that the 2012 China target of growth will be 7.5% certainly didn’t cause for any celebration. Instead, as Intermodal’s George Bassakos points out, “it is an evident move to further control China's furious economic growth, support consumption and protect the country from the effects of the financial debt crisis hurting the West. But what are the implications of this decision on Shipping? Definitely not good news” he said.
According to Bassakos, “China’s mining trade association expects imports of iron ore, could drop by as much as 14 per cent for 2012, as the country ramps up domestic production, a move which will not come as good news for capesize bulkers, witnessing record fleet growth.
Chinese steel production at 52.1mt in January 2012 (down 13.0 per cent year-on-year), is nothing more than another proof of domestic falling demand. Chinese steel production is a key driver as it accounts for 46% of global steel production, while iron ore and coking coal account for 29% and 6% of transported cargoes. Furthermore, Chinese iron ore and steel stockpiles remain at historically high levels - a real concern for dry bulk shipping.
Dry bulk shipping still suffers from supply issues with 2012 being the 3rd year in a row, with double-digit supply growth and such news coming from China, will put further pressure on rates. Some improvements are expected (and needed) but definitely the glory days of the past seem to have elapsed” concluded Intermodal’s Bassakos in his analysis.
Meanwhile, in the demolition market there remains plenty of activity in the market place and price levels have stabilized or in some cases and surprisingly, improved slightly.
According to the latest weekly report of Clarkson Hellas “India, the bedrock of the industry for many months now, continue to be the major players. Some 52 vessels had arrived to the anchorage for resale into Alang in February, however many we understand, remain unsold to the breakers or are suffering attempted renegotiations. These problems are now rarely highlighted in the market unlike previous years, which really is a credit to the cash intermediaries who really have brought some exemplary work ethics into the business over recent years, particularly when they are placing deposits into Owners accounts and have the added pressure of some unethical efforts imposed on them by the breakers.
Despite a settled local currency and stable domestic steel market in India, no reasonable price increases are evident due to the large supply of tonnage to the area and some are pleasantly surprised that we have not seen any negative correction in rates. However, the next couple of weeks may see inquiry and activity from India wane whilst the date for the budget draws closer (16th March) as buyers may prefer to hold back from risking numbers pre-budget for later deliveries.
Bangladesh still remains cautious as whilst vessels are being beached, it is reported that there remains lengthy delays completing inward custom formalities and breakers continue to face difficulties opening Letters of Credit. It is hoped that in the future, everything could return to how they used to be, free of any delays or financial issues, to ease the pressure on their counterparts in India” concluded Clarkson Hellas.
In a separate report, shipbroker Golden Destiny stated that “scrap prices are still soft with vessels being on stream of disposal and India leading the game as Bangladesh still tries to find its strength. The Central Bank of Bangladesh has increased lending rates as the depreciation of its currency against the dollar has resulted in lower dollar reserves. The monetary tightening has made it more difficult for scrap yards to obtain letters of credit; putting pressure on Bangladesh’s scrapping business. Scrap levels for dry units are floating at levels $460-$470/ldt and for wet units near to $500/ldt with China offering below $450/ldt.
The week ended with 21 vessels reported to have been headed to the scrap yards of total deadweight 1,281,029 tons. In terms of the reported number of transactions, the demolition activity has been marked with a 91% week-on-week increase, whereas there has seen a 92.35% increase regarding the total deadweight sent for scrap. In terms of demolition levels, the highest scrap rate has been achieved this week in the tanker segment by Pakistan for a VLCC unit of 269,065 dwt with 34,294 ldt built 1992 at $502/ldt. Bulk carriers have grasped the lion share of this week’s total demotion activity, 38%, with India winning 52.38% and China 24% of the activity.
At a similar week in 2011, demolition activity was down by 36% from the current levels, in terms of the reported number of transactions, 15 vessels had been reported for scrap of total deadweight 597,238 tons with bulk carriers grasping 33% and liners 40% of the total number of vessels sent for disposal. India and Pakistan had been offering $455-$465/ldt for dry and $485-$495/ldt for wet cargo, while Bangladesh market had been inactive from the demolition scene” concluded Golden Destiny in its report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 07 March 12
3RD MOZAMBIQUE COAL CONFERENCE
3rd Mozambique Coal Conference
2-4 July 2012 | Joaquim Chissano International Conference Centre , Maputo, Mozambique
http://www.immevents.com/mo ...
Wednesday, 07 March 12
DRY BULK MARKET KEEPS UP TIMID REBOUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its rising momentum yesterday, rising for the eighth straight session, on the back of renewed demand for smaller bulk c ...
Wednesday, 07 March 12
BUKIT ASAM EYES 39% RISE IN COAL SALES - INSIDER STORIES
Insider Stories reported that, PT Bukit Asam Tbk is scouting a 39% increase in coal sales volume to 18.66 million tons this year from last year with ...
Wednesday, 07 March 12
PETROSEA SEALS US$188 MIO CONTRACT - INSIDER STORIES
Insider Stories reported that, coal mining contractor PT Petrosea Tbk has secured a US$188 million additional contract from its affiliated firm PT S ...
Monday, 05 March 12
SOUTHGOBI ANNOUNCES AGREEMENT TO SELL ITS THERMAL COAL TSAGAAN TOLGOI DEPOSIT FOR US$ 30 MILLION
SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) announced today an agreement to sell its thermal coal property, the Tsagaan Tolgoi Deposit to Modun Re ...
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- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- White Energy Company Limited
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Planning Commission, India
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
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