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Friday, 04 May 12
DEMOLITION KEY FOR DRY BULK MARKET RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The overflow of newbuilding vessels which “spilled over” into 2012 from 2011 brought the dry bulk market to a near collapse level at the early stages of this year. Stunned, shipowners were helplessly watching as freight rates tumbled over and over again until the bottom of the market was finally reached in late February. It had taken the market back to levels even worse than those of the later part of 2008, when the world’s trade was in effect stopped, as a result of the global financial crisis, which had as a result the halting of issuing of letters of credit from banks, a necessary document for the movement of cargoes.
In its latest analysis, Intermodal discusses the issue of demolition activity and whether it could act as a “catalyst” to help the dry bulk market recover. According to Intermodal’s Panos Makrinos, “from the second half of 2008, there has been a significant plunge of freight rates which for some market segments has persisted until today. “All parties involved in the shipping industry continually voice that in order to deal with the severe oversupply problem and improve freight rates once more is to limit new building orders scrap older tonnage. For the later solution this would mean that all the early/mid 80’s vessels would head to scrapyards even if they are in excellent condition and well maintained with trading certificates for several more years. The question that arises here is whether this common thinking is indeed correct and able itself to recover the current uncertain market” wondered Makrinos.
He continued by mentioning that “starting from the current levels of demolition, we see that demo price levels are dropping incrementally week by week and the main reason for this fall has mainly been the weak demand of steel which will probably continue to suffer as Europe slides back into recession. This week, Bangladesh was the leader of all demo players around the world as most of the deals which reported for demo went to Bangladeshi scrap buyers at very impressive numbers in comparison with the price levels offered by all other demo markets. In terms of scrap prices, the most recent considerable deal that has been achieved in the dry segment was the Ukrainian built OKEAN type ‘’GOOD UNION’’ with lightship 13.630tns which fetched an unbelievable price at region USD 493 per ton.
On the other hand, the remaining demo buyers have appeared for one more week to have had a very conservative appetite, with their poor performance caused by the fact that they were not in a position to submit offers at attractive price levels. Moreover, it is said that there was a large number of renegotiations that have taken place recently. For the time being, all the cash buyers are becoming a little skeptical and deciding to focus on the tonnage they have already bought and sell off existing units before proceeding with new acquisitions.
Demo prices overall remained at similar price levels as they were in the last week, with wet tonnages to be around USD 425-490 per lightweight and dry units remaining to about USD 410-470 per lightship” he said.
He concluded his report by mentioning that “throughout 2011, we had continuously repeated that despite the very high activity reported in the demolition market during that year, oversupply still remained a serious headache for all ship owners creating uncertainty for the near term prospects of the shipping industry. In addition, the first four months of this year we noticed a large number of vessels being beached, however, freight rates are still remaining at low levels and nothing remarkable has changed. This result points to the fact that scrapping of vessels alone is not enough to provide a balance in the charter market. We will also need to see cancelations of N/B orders increase within the coming months, as well as a more moderate newbuilding ordering strategy by shipowners”.
Meanwhile, “in the The Indian market lost further support this week as offered prices dropped due to the decreased demand noted. Bangladeshi breakers still hold the lead in prices offered, while it seems as though Pakistan was able to cover the gap caused by the softening Indian market. With demand now remaining fairly soft, while the supply of candidates continues to put considerable downward pressure on the market, we could start to see prices decrease further over the coming weeks. This has not ben the case for the Turkish market were we have seen a sudden rapid increase in price levels, likely supported by the firm demand for scrap steel. Prices overall remained stable, with wet tonnages noting levels of around 425-490$/ldt and dry units holding at about 410-470$/ldt” said Intermodal.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 02 November 11
MMTC TO BUY 3.73 MILLION TONS OF COAL FOR 2011- 2013
COALspot.com - India’s state-owned coal and mineral trader MMTC looking for 3.73 million tons of power plant coal for the period 2011 - 2012/ ...
Wednesday, 02 November 11
PANAMAX MARKET BECAME QUIETER AFTER THE RECENT RECOVERY - BRS
There were substantial losses across the board this week: the BDI lost 6.3% to end at 2,018 and the BCI 8.2% to end 3,274. In the smaller sizes the ...
Tuesday, 01 November 11
BORNEO LUMBUNG BUYS 23.8% INTEREST IN BUMI
COALspot.com - PT. Borneo Lumbung Energi (BORN), an Indonesian coking coal producer announces that it has signed a sale and purchase agreement, cond ...
Tuesday, 01 November 11
BAKRIE FORMS STRATEGIC PARTNERSHIP WITH BORNEO - REDUCING DEBT BY USD 1 BILLION
Press Release - Enhancing the standing of “Indonesia Inc.” at the London Stock Exchange PT Bakrie & Brothers Tbk (“BNBR” ...
Tuesday, 01 November 11
ATLAS RESOURCES SETS IPO AT RP1,500 - INSIDER STORIES
Insider Stories reported that, coal miner PT Atlas Resources Tbk has set its initial public offering (IPO) at Rp1,500 (approximately US$ 0.169) per ...
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- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- The University of Queensland
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- White Energy Company Limited
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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