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