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