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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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Sunday, 15 April 12
THE SPOT FIXTURE RATES FOR SUPRAMAX IN SE ASIA SAW SOME SOFTENING OF CHARTER RATES - VISTAAR
COALspot.com - The market seem to be holding and except for Supramax and handy size index all other index was up with BDI up by 4.74 pct closing at ...
Friday, 13 April 12
MINERS OPPOSE GOVTS EXPORT TAX PLAN - THE JAKARTA POST
The Jakarta Post reported that, Indonesian mining companies have strongly protested the government’s plan to impose a 25 percent export tax on ...
Friday, 13 April 12
S&P CAUTIONS AGAINST NEW INDONESIAN MINING REGULATIONS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Investors may have expressed concerns about looming new mining regulations, but ratings agency Standard & Poor& ...
Thursday, 12 April 12
FIRST QUARTER OF 2012 SAW AN ADDITIONAL 24.2 MILLION DWT OF DRY BULK CARRIERS ENTERING THE FLEET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The inflow of newbuilt dry bulk vessels was larger than expected in the first quarter of 2012. As much as 24.2 million DWT were added to the fleet. ...
Wednesday, 11 April 12
TWO PERCENT OF IBP CONCESSION CONTAINS 42 MMT OF COAL
COALspot.com - 42.35 million ton of coal found in just 2% of PT Insani Bara Perkasa’s total concession area of 24,477 hectare.
Accord ...
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- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Central Electricity Authority - India
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Planning Commission, India
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
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