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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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Thursday, 03 May 12
DRY BULK MARKET REMAINS INACTIVE, POSTING MILD DECREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept retreating this week, although at a very low pace, on the back of a lull in demand. The industry's benchmark, th ...
Thursday, 03 May 12
MINERS DEMAND LEGAL CERTAINTY ON PRE-BAN INTERIM POLICY - THE JAKARTA POST
The Jakarta Post reported that, Mining companies represented by the Indonesian Mining Association (IMA) welcomed the government’s plan to impo ...
Thursday, 03 May 12
HANDY EAST COAST INDIA - CHINA AROUND USD 7000 - FEARNLEYS AS
Handy - Stable demand in the Atlantic offered good rates for the tonnage.
USG/Cont was worth USD 17500 and more. Baltic and Black Sea appeared to ...
Wednesday, 02 May 12
CHINA BLACKOUTS HIGHLIGHT PRICING POLICY WEAKNESS - FITCH
Fitch reported that, the likelihood of further electricity blackouts in China this summer underlines Fitch's view of the basic problem f ...
Tuesday, 01 May 12
VIETNAM FEARS IT MAY NOT SEEK COAL SUPPLIES - TBKTSG / VIETNAMNET BRIDGE
TBKTSG / VietNamNet Bridge reported that, with five coal-run thermopower plants under construction, PetroVietnam alone would need 18 million tons of ...
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- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
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