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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, 26 October 11
INDIAN MARKET WAS REMAINED TIGHT THE WHOLE LAST WEEK - BRS
The market once more seems to be at a crossroads. The indices last week remained fairly stable (except for the Panamax sector), ending the week as f ...
Tuesday, 25 October 11
DRY BULK MARKET STEADY, ANALYSTS LOOKING FOR ADDED PRESSURE ON THE MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was unchanged on Monday, with the industry’s benchmark, the BDI (Baltic Dry Index) ending the session at 2,153 points, exa ...
Monday, 24 October 11
NEW HEAD OF INDONESIA'S MINING MINISTRY GETS RAKED OVER THE COALS - JOSEPH KIRSCHKE
COALspot.com - Following Indonesia’s presidential cabinet shakeup last week, many are questioning the qualifications of Energy and Mineral Res ...
Monday, 24 October 11
CHINA QINHUANGDAO COAL PRICE RISES TO HIGHEST IN THREE YEARS - BUSINESSWEEK
Business week reported that, China’s power-station coal price rose to the highest level in three years as power stations and central heating p ...
Monday, 24 October 11
CAPESIZE RENTAL RATES RISE FOR THIRD DAY AS MORE SHIPS HIRED - HELLENIC SHIPPING
Rates to hire capesize vessels advanced for a third day on signs of increased demand to transport iron ore, used to make steel.Daily rates for the s ...
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- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Siam City Cement - Thailand
- Planning Commission, India
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
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