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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, 15 May 12
POTENTIAL BOOM OF CHINAS COAL IMPORTS COULD PROVIDE FURTHER SUPPORT TO DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been moving sideways during the past week with the industry’s benchmark, the Baltic Dry Index (BDI) losing 0.53% on th ...
Saturday, 12 May 12
THE SHIPPING MARKET IS UNLIKELY TO SEE A REBOUND ANYTIME SOON - VISTAAR SINGAPORE
COALspot.com - The BDI softened this week and it was down by 1.64 pct closing at 1,138 points.
The cape index was up by 2.41 pct closing at 1,61 ...
Friday, 11 May 12
POLITICAL CHANGES COULD LEAD TO TEMPORARY HALT IN SHIPPING INVESTMENTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The potential of changes of political leadership in many of the world’s leading economies could very well lead to significant shifts in the di ...
Thursday, 10 May 12
DRY BULK ERRATIC ON LACK OF DIRECTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept up its erratic behavior as it went down again during yesterday’s session, on a lack of direct guidance in terms o ...
Wednesday, 09 May 12
COAL INDIA SIGNS FSAS WITH 13 POWER UNITS SO FAR - PTI
Press Trust of India has reported that, coal India has so far entered into fuel supply pacts with 13 power units, including Reliance Power's Rosa P ...
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- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
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