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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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Wednesday, 25 April 12
CHINA IMPORTS 9.76 MMT AND INDIA IMPORTS 7.03 MMT OF INDONESIAN COAL LAST MONTH
COALspot.com: Indonesia, the world largest coal exporter, shipped 30.64* million tons of coal in March 2012, compared to 27.12* million tons i ...
Monday, 23 April 12
ALTURA ENTERS INTO AGREEMENT TO ACQUIRE 2 COAL PROJECTS IN SOUTH KALIMANTAN
COALspot.com - Altura Mining Limited (ASX: AJM) has announced that it has entered into an agreement to acquire a further two (2) Mining Permits (IUP ...
Sunday, 22 April 12
THE FREIGHT MARKET EXPECTED TO REMAIN FIRM NEXT WEEK - VISTAAR
COALspot.com - The BDI has broken the psychological barrier of 1000 points and closed at 1067 points.
The cape index was slightly down by 2.48 pc ...
Saturday, 21 April 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS DROP 2.61 PERCENT THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps fell for a fifth day, according to DSP of SGX AsiaClear OTC Coal Swaps.
CFR South China Coal ...
Friday, 20 April 12
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A rebound of demand for smaller dry bulk carriers has led the industry’s benchmark, the BDI (Baltic Dry Index) above the 1,000-point mark for ...
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- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
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