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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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Thursday, 05 April 12
COAL EXPORT TAX: MATTER OF CONCERN FOR INDIA - SUNIL K KUMBHAT
COALspot.com - Since the issuance of Indonesian Mining law in 2009, miners have increased their activities in exploring , ex ...
Thursday, 05 April 12
AKR COAL FIRST EXPORT SHIPMENT OF COAL SEABORNE
PT Anugrah Karya Raya (AKR Coal) subsidiary of PT AKR Corporindo Tbk., Indonesia’s leading integrated supply chain solutions provider and larg ...
Thursday, 05 April 12
DRY BULK MARKET STALLS AS TREND IS REVERSED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has halted its month-long rally, with the BDI (Baltic Dry Index) retreating yesterday for a second consecutive session. Industry ...
Wednesday, 04 April 12
OIL MAY JUMP TO $150PB IF IRAN ATTACKED: EXPERT - KUNA / HELLENIC SHIPPING
Prices of oil will not drop below level of $100 per barrel and may jump to $150 pb in the coming two months, according to the prominent Kuwaiti expe ...
Wednesday, 04 April 12
CHURCHILL MINING TO ACCELERATE INTERNATIONAL ARBITRATION AGAINST INDONESIA
Churchill Mining plc (AIM: CHL), advises that notations on the Indonesian Supreme Court's register of cases shows the Supreme Court has rejected th ...
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- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Australian Coal Association
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- The University of Queensland
- Petron Corporation, Philippines
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
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