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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, 26 April 12
TAIPOWER TO BUY 1.15 MILLION TONS OF 5000 GAR COAL
COALspot.com - Taiwan Power Company intends to procure 1.125million tons of sub-bituminous coal for Taipower thermal power plant through open tender ...
Thursday, 26 April 12
TAIPOWER TO BUY 375,000 MT OF 4800 GAR COAL
COALspot.com - Taiwan Power Company intends to procure 375,000 metric tons of low sulfur sub-bituminous coal for Taipower thermal power plant ...
Thursday, 26 April 12
ADK SHIPPED 28,000 TONNES OF COAL THIS MONTH
COALspot.com - Orpheus Energy (ASX:OEG) has announced that four coal barges carrying a total of approximately 28,000 tonnes of ADK (Alam Duta K ...
Thursday, 26 April 12
DRY BULK CARRIERS RENTER FLEET AFTER IDLING, ON MARKETS RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be back on track, not only solidifying the gains of the past couple of weeks, but also racing to new heights, recuperra ...
Thursday, 26 April 12
PANAMAXES AGAIN EARN MORE THAN CAPESIZES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest surge of demand for Panamaxes has led the dry bulk market to new higher ground on Monday, with the Baltic Dry Index (BDI) reaching 1,090 ...
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- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- White Energy Company Limited
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Economic Council, Georgia
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Australian Coal Association
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
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