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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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Tuesday, 01 November 11
DRY BULK MARKETS CORRECTION SPILLS OVER ONTO NEW WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is losing steam, as evidenced by the falls experienced last week, which were also apparent at the beginning of the new week. A l ...
Monday, 31 October 11
CHINAS HUNGER FOR INDONESIAN COAL AT THREE YEAR-HIGH AS WINTER NEARS - JOSEPH KIRSCHKE
COALspot.com - Chinese demand for power-station coal from Indonesia has soared to its highest level in three years, as central heating plants and po ...
Saturday, 29 October 11
ATLAS RESOURCES SEALS US$95 MIO LOAN - INSIDER STORIES
Insider Stories reported that, coal producer PT Atlas Resources Tbk, that is controlled by Indonesian businessman Andre Abdi, has secured US$95 mill ...
Saturday, 29 October 11
INDONESIA TO INDIA FREIGHT LIKELY TO REMAIN SOFT
COALspot.com - The market continued to slow down and all segment were down this week.
The biggest drop was in the Cape Index down by 8.19 pct&nbs ...
Friday, 28 October 11
RISING COAL PRICES TO WORSEN CHINA'S WINTER POWER CRUNCH - CRI ENGLISH
CRI English reported that, the rising price of coal is fueling concerns about a power crunch set to plague China this winter, analysts said.
The ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- The University of Queensland
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- PTC India Limited - India
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Australian Coal Association
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
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