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