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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, 11 April 12
DRY BULK MARKET STILL SUBDUED, RECOVERY NOT YET SEEN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market entered the new week after the past days of easter holidays in western countries in a subdued mood. The industry’s benchma ...
Monday, 09 April 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first week of April ended with the Baltic Dry Index falling below 950 points, before Catholic Easter, and capesizes showing a modest upturn with ...
Sunday, 08 April 12
CHARTER RATES COULD CONTINUE TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The BDI was almost at same levels closing slightly lower by 0.64 pct at 928 points.
The Cape index was up by 6.73 pct closing at ...
Friday, 06 April 12
INDONESIAN HBA FALL TO LOWEST LEVEL SINCE JANUARY 2011
COALspot.com - Indonesian HBA fall to lowest level since January 2011 this month. The monthly coal reference price for coal sales in April fal ...
Friday, 06 April 12
DRY BULK MARKET SWIFT TO HALT FALL ON RENEWED DEMAND FOR CAPESIZES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk managed to put a stop to the recent falls, which came as a result of a lacklustre demand for smaller vessel sizes. Although this trend ...
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- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
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- Singapore Mercantile Exchange
- MS Steel International - UAE
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
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- The Treasury - Australian Government
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- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
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- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
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- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
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- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
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- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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