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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, 18 October 11
INDONESIAN PRESIDENT APPOINTS JERO WACIK AS NEW MINISTER OF ENERGY & MINERAL RESOURCES
COALspot.com - Jero Wacik has been appointed as minister of energy and mineral resources of Indonesia replacing Darwin Saleh and Prof. Widjajono Par ...
Tuesday, 18 October 11
DELTA DUNIA MAKMUR HAS PRODUCED 3.0 MILLION TONS OF COAL LAST MONTH
COALspot.com - PT. Delta Dunia Makmur, wholly owned subsidiary, PT Bukit Makmur Mandiri Utama (BUMA), Delta Dunia Makmur has removed 1.4 million bcm ...
Monday, 17 October 11
KOWEPO TO BUY 260,000 MT BITUMINOUS COAL
COALspot.com - KOWEPO has issued a spot tender for 260,000MT of minimum 5,600kcal/kg NAR Bituminous Coal.
The tender document also mentioned tha ...
Monday, 17 October 11
CAPESIZE SHIPPING COSTS CLIMB TO 10-MONTH HIGH ON ORE IMPORTS
The cost to hire capesize vessels climbed to a 10-month high as rising imports of iron ore to China boosted demand for the ships.Monthly iron-ore sh ...
Saturday, 15 October 11
BUNKER PRICES AND DEMANDS PUSHED FREIGHT RATES UP - VISTAAR
COALspot.com - The market continued to be firm with all segments moving up with biggest gain in Handy size segment up by 15 pct. The BDI was u ...
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Showing 5026 to 5030 news of total 6871 |
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- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- The University of Queensland
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- PTC India Limited - India
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
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