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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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Monday, 02 April 12
BANGLADESH EYEING INDONESIA FOR COAL
COALspot.com - The high level executives of Center for Environmental and Geographic Information Services (CEGIS) of Bangladesh is visiting Ind ...
Monday, 02 April 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first quarter of the New Year ended with the BDI standing 42% above from the 26 years’ bottom low of 662 points on February 1st, and a pos ...
Saturday, 31 March 12
THE BDI CONTINUED TO MOVE UPWARD - VISTAAR
COALspot.com - The BDI continued to move upward and rose by 2.86 pct closing at 934 points.
The cape index was up by 3.14 pct closing at 1,412 po ...
Saturday, 31 March 12
SRI LANKA IMPORTS 152,555 MT OF INDONESIAN COAL IN FEBRUARY
COALspot.com: Indonesia, the world largest coal exporter, shipped 27.126* million tons of coal in February 2012, compared to 28.21* million to ...
Friday, 30 March 12
RECOND NUMBERS SURROUNDING THE SUPRAMAX DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Last year proved to be both a record year in the number of deliveries of dry bulkers between 40,000dwt and 64,000dwt, as well as a record year in th ...
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- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- The University of Queensland
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
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