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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, 22 May 12
NEW ONE-YEAR TIME CHARTERS FOR TWO VESSELS OF EXCEL MARITIME CARRIERS LTD.
Excel Maritime Carriers Ltd. (NYSE: EXM), an owner and operator of dry bulk carriers and an international provider of worldwide seaborne transportat ...
Tuesday, 22 May 12
DRY BULK MARKET STEADY, AWAITING FURTHER RISE IN DEMAND WHICH IS DOUBTFUL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Traditionally, the second and third quarters of the year are the strongest for the dry bulk market, but this year, things seem to be quite subdued, ...
Sunday, 20 May 12
SPOT FREIGHT RATE DIPS FURTHER - VISTAAR
COALspot.com - The BDI was marginally up by 3 points (0.26 pct) closing at 1,141 points.
The cape index was up by 1.17 pct closing at 1,633 point ...
Saturday, 19 May 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS DROP US$ 2.88 PMT W-O-W
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for June deliveries have drops this week by 3.86 percent and& ...
Saturday, 19 May 12
INDONESIAN EXPORT TAX GIVES COAL MINERS A CHEAP RIDE: ANALYSTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s policy to exclude coal from an export tax that has been applied to 14 other mineral commodities h ...
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- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- The University of Queensland
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Planning Commission, India
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
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