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