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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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Monday, 28 May 12
COAL EXPORTS ARE JUMPING HIGHER, BUT PRICES ARE FALLING LOWER
COALspot.com: Indonesia, the world largest coal exporter, shipped 31.86* million tons of coal in April 2012, compared to 30.64* million tons i ...
Sunday, 27 May 12
THE FREIGHT MARKET FROM INDONESIA TO INDIA WAS WEAK - VISTAAR
COALspot.com - The BDI continued to fall for the fourth straight week and the BDI fell by 9.38 pct this week closing at 1,034 points.
The Cape Si ...
Sunday, 27 May 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS HEADING TO SOUTH DIRECTION
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for July deliveries have dropped this week by 5.43 percent an ...
Saturday, 26 May 12
DRY BULK SHIP OWNERS LOOKING TO CUT BACK ON TONNAGE SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The oversupply of dry bulk carriers has been the most prominent problem in the market today, pushing down rates and ‘strangling’ profita ...
Thursday, 24 May 12
DRY BULK MARKET RETREATS ON LACK OF CHINA DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market retreated yesterday on the back of lower Chinese demand for commodities such as coal and iron ore, typically hauled by dry bulk ...
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Showing 4716 to 4720 news of total 6871 |
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- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- The Treasury - Australian Government
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
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