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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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Sunday, 23 October 11
CHINA LOOKING TO RESELL INDONESIAN COAL CARGOES - BARCLAYS
Commodity Online reported that, Anecdotal evidence has suggested that China is even looking to resell Indonesian cargoes back into the seaborne coal ...
Saturday, 22 October 11
THE SHORT-PERIOD RATES FOR PANAMAX REMAINED FIRM - CAPT. REDDY
COALspot.com - "The market seemed to slow down a bit this week, and all sectors were down by about One to five percent", said Capt. Reddy, ...
Saturday, 22 October 11
WILL THE PROPOSED 26 PERCENT PROFIT SHARING CLAUSE IN THE MINING BILL SPEED UP THE PRODUCTION OR SCARE AWAY INVESTORS? - DIPESH DIPU
A draft law has been approved by a ministerial panel headed by Finance Minister Pranab Mukherjee of India which, if passed by the Cabinet, will make ...
Saturday, 22 October 11
INDONESIA'S GOLDEN ENERGY SLASHES ITS IPO PRICE - THE JAKARTA GLOBE
The Jakarta Globe reported that, Golden Energy Mines, a coal mining company affiliated with Sinar Mas Group, lowered its target in an initial public ...
Thursday, 20 October 11
CAPESIZE - TUBARAO /QINGDAO BEING FIXED AT STRONG US$ 29.75 PMT
Handy
The Atlantic market is quite steady, and market seems to be around the same levels as last week. Fewer fixtures reported though. ...
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- Coal and Oil Company - UAE
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Australian Coal Association
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- The University of Queensland
- Riau Bara Harum - Indonesia
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