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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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- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- The University of Queensland
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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