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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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Sunday, 29 April 12
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The BDI continued to go up with the support of Panamax/Supramax and was up by 8.34 pct closing at 1,156 points.
The cape index was ...
Sunday, 29 April 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS FOR MAY 2012 DELIVERY WAS STABLE THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps for May deliveries stable this week, according to DSP of SGX AsiaClear OTC Coal Swaps. In the me ...
Friday, 27 April 12
BUKIT ASAMS NET INCOME UP 14% IN 1Q 2012 (UNAUDITED)
Press Release - PT Bukit Asam (Persero) Tbk, announced the Consolidated Financial Statements and Subsidiaries per 31 March 2012 (Unaudited).
Reve ...
Thursday, 26 April 12
AUSTRALIAS COKAL EXPANDS MET COAL POTENTIAL INTO WEST KALIMANTAN
COALspot.com - Global metallurgical coal group Cokal Limited (Cokal) (ASX:CKA) announced today it has completed the acquisition of 75.2% of PT Silan ...
Thursday, 26 April 12
BUKIT ASAMS 1Q OPERATING PROFIT MARGIN HAS INCREASED BY 6% TO RP. 1 TRILLION
COALspot.com - PT. Bukit Asam (Persero), the Indonesia’s state owned coal miner's 1Q, 2012 revenue has increased by 31% to Rp. 3.02 trillion ...
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- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Parliament of New Zealand
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Sical Logistics Limited - India
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- The University of Queensland
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
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