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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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Friday, 20 April 12
BUMA HAS PRODUCED 2.6 MILLION TONS OF COAL IN MARCH 2012
COALspot.com - BUMA has removed 28.0 million bcm (+6.4% YoY) of overburden in March 2012 while coal production was at 2.6 million tons (+1.3% YoY).
...
Thursday, 19 April 12
FRESH COAL SALES FROM JATENERGYS JONGKANG MINES
COALspot.com - Energy company Jatenergy Ltd (ASX code JAT) announced today that it had signed a contract for an 11,000 tonne coal sale due for shipm ...
Thursday, 19 April 12
HANDY - 'POSITIVE TREND', PANAMAX - 'A FIRMER TENDENCY', CAPESIZE - 'AGAIN NEGATIVE'
Handy
The positive trend from last week continued, with more cargoes entering the market. Skaw/Passero del fixed tick above USD 4000 for US Gulf di ...
Thursday, 19 April 12
WILLIS MARINE MARKET REVIEW FORECASTS ANOTHER DIFFICULT YEAR - WILLIS GLOBAL MARINE / HELLENIC SHIPPING
After an inauspicious start, 2012 could well be "another difficult and uncertain year for the maritime industry faced with the aftermath of the ...
Wednesday, 18 April 12
INDONESIA TO INTRODUCE EXPORT DUTY ON MINERAL ORES BY 6 MAY 2012
The Indonesian government is scheduled to issue regulation on export duty for minerals before May 6, 2012.
According to Bisnis Indonesia, as quot ...
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- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Planning Commission, India
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- PTC India Limited - India
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
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