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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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Friday, 01 June 12
COKAL ACCEPTED ON THE CLEAN AND CLEAR LIST FOR ITS BORNEO BARA PRIMA AND BUMI BARITO MINERAL PROJECTS
- Borneo Bara Prima (BBP) Project confirmed on the Clean and Clear List 9th May 2012
- Bumi Barito Mineral (BBM) Project confirmed on the Clean and ...
Friday, 01 June 12
ADARO BUYS MAJORITY STAKE IN AFFILIATED BHAKTI ENERGI - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk entered into an option to provide a convertible loan of up to US$500 million for a period of 3 ye ...
Thursday, 31 May 12
DRY BULK MARKET UNABLE TO FIND NEW SUPPORT TO REACH HIGHER LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been unable to find new support and recover to higher levels during these past few days. As a result, the Baltic Dry Index ( ...
Wednesday, 30 May 12
ORPHEUS RAISES $2.24M TO ADVANCE INDONESIAN COAL PRODUCTION ASSETS
• $2.24 million raised from a placement to new and existing institutional and sophisticated investors from Australia and overseas
• Funds ...
Wednesday, 30 May 12
ARPENI SECURES TRANSSHIPMENT CONTRACT FROM BARUNA DIRGA
Insider Stories reported that, shipping operator PT Arpeni Pratama Ocean Line Tbk (APOL) has secured a 1-year coal transhipment contract of 4 millio ...
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- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- The University of Queensland
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Australian Coal Association
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Minerals Council of Australia
- Malabar Cements Ltd - India
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