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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, 20 October 11
BRACKEN INTERNATIONAL MINING LISTS ON FRANKFURT STOCK EXCHANGE
Press Release - Bracken International Mining (Code:1BM) listed on the Deutsche Börse’s Frankfurt Stock Exchange today at €1.00 with ...
Thursday, 20 October 11
CAPESIZES, SUPRAMAXES LEAD GAINS FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Struggling to find additional support, but still managing to post gains, the dry bulk market has stabilized itself on higher levels again yesterday, ...
Wednesday, 19 October 11
METALLURGICAL COAL PRICES TO DROP BELOW US$240/TONNE - WOOD MACKENZIE
Wood Mackenzie Says Metallurgical Coal Prices to Drop Below US$240/tonne by Q4 2012 But Long-term Demand Fundamentals Remain Robust
Wood Mackenzi ...
Wednesday, 19 October 11
SUPRAMAX MARKET WAS VERY FIRM LAST WEEK - BRS
With all sectors contributing positively, the BDI ended the week at 2,173 points (+8.6%), its highest level so far in 2011. The BCI stood at 3,587 ( ...
Wednesday, 19 October 11
ADARO ACQUIRES BUKIT ENIM ENERGI - INSIDER STORIES
Insider Stories reported that, Coal miner PT Adaro Energy Tbk, via its subsidiary dubbed PT Alam Tri Abadi, today revealed a 46% stake takeover of a ...
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- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- VISA Power Limited - India
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Parliament of New Zealand
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
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