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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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Thursday, 27 October 11
CAPESIZE REACHING NEW HIGHS - FEARNLEYS
Handy
Pacific market has mixed sentiments with tonnages fixed at firm levels and some tonnages in feast failing on subs.For indo-india, large eco ...
Thursday, 27 October 11
DRY BULK MARKET EDGES DOWN AS CHINAS IRON ORE DEMAND LOSES GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A plunge in Chinese iron ore demand, as a result of high steel inventories and a bleak outlook regarding steel prices, has prompted the dry bulk mar ...
Thursday, 27 October 11
BUKIT ASAM 3Q PROFIT SURGES 66.91%
Insider Stories reported that, the state-controlled coal miner PT Bukit Asam Tbk (PTBA) experienced a 66.91% increase in its net profit during a per ...
Wednesday, 26 October 11
MOODYS SEES MORE GROWTH FOR INDONESIAN COAL MINERS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal mining industry looks set to grow despite an uncertain global economic outlook, according to ...
Wednesday, 26 October 11
PWCS GLOBAL SHIPPING BENCHMARKING ANALYSIS: RECOVERY IN 2010 BUT GREAT UNCERTAINLY FOR 2011
The recovery of global trade in 2010 to the same levels as 2008 led to an improvement in the overall performance of shipping companies in 2010 compa ...
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- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- The University of Queensland
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- White Energy Company Limited
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Marubeni Corporation - India
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
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