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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, 18 May 12
EXPORT TAX WILL ERODE PROFITS, INDONESIAN COAL EXEC COMPLAINS - THE JAKARTA GLOBE
The Jakarta Globe reported that, A 20 percent export duty the government has imposed on 14 mineral ore products will not only take a toll on mining ...
Friday, 18 May 12
KOREA EAST WEST POWER LOOKING FOR TOTAL 2.6 MILLION TONS OF 4600 NAR COAL AT FIXED PRICE FOR 5 YEARS
COALspot.com - Korea East West Power Co., Ltd is inviting bids to supply of 520,000 Metric Tons (per annum) of minimum 4,600 kcal/kg coal of N ...
Friday, 18 May 12
NICKEL ORE CARGOES ARE NOT SEEN IN MARKET ANYMORE DUE TO ON-GOING INDONESIAN BAN - FEARNLEYS AS
Handy
The market remained variable.
Fronthaul voyages both from Baltic and Black Sea paid over USD 18k/day. From USG to Cont tonnage would get ...
Thursday, 17 May 12
COAL MINERS OPPOSE EXPORT TAX, SUGGEST OUTPUT QUOTA - THE JAKARTA POST
The Jakarta Post reported that, coal miners have suggested that the government apply a production quota instead of implementing an export tax in ord ...
Thursday, 17 May 12
DRY BULK MARKET STILL LOOKING FOR NEW DIRECTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept on moving sideways during this week, with the mixed performance across all segments. Yesterday, the industry’s be ...
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- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- The University of Queensland
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Central Electricity Authority - India
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Planning Commission, India
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
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