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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, 08 May 12
DRY BULK MARKET LOOKING FOR NEW DIRECTION THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the BDI (Baltic Dry Index) the main benchmark of the dry bulk shipping industry not traded at the start of this week, traders, charterers and s ...
Monday, 07 May 12
INDONESIAN HBA FALL AGAIN IN MAY 2012
COALspot.com - Indonesian HBA fall again to lowest level since January 2011 in May 2012. The monthly coal reference price for coal sales in Ma ...
Sunday, 06 May 12
INDONESIAN SUB-BITUMINOUS COAL & CFR SOUTH CHINA SWAPS SLIGHTLY DROP THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for June deliveries slightly dropped this week.
According ...
Sunday, 06 May 12
S7 & S8 ROUTES LIKELY TO BE FIRM NEXT WEEK VISTAAR SINGAPORE
COALspot.com - The BDI remained flat this week and was up just by 1 point closing at 1,157 points.
The cape size index was up by 5.14 pct closing ...
Sunday, 06 May 12
EXPORT DUTY ON MINERAL FINALLY TO BECOME EFFECTIVE NEXT WEEK
COALspot.com - Mineral ore exporters of Indonesia ( only IUP holders) are required to obtain recommendation letter from the energy and mineral ...
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- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
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