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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, 29 March 12
DRY BULK EDGED FURTHER UP, ON HEALTHY DEMAND FOR MOST SHIP TYPES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With capesize vessels finally reappearing in demand, the dry bulk market had an easier task of rising yesterday, as the BDI (Baltic Dry Index) reach ...
Thursday, 29 March 12
ADARO FY11 NET INCOME JUMPS 124% - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk (ADRO) today announced a 124% jump in net income to US$552 million last year or US$0.017 a share. ...
Wednesday, 28 March 12
CUESTA HAS RECEIVED APPLICATIONS AND FIRM BIDS IN EXCESS OF $9 MILLION FOR THE COMPANYS IPO
COALspot.com - The Directors of Cuesta Coal Limited (ASX:CQC) have announced that today it has received applications and firm bids in excess of $9 m ...
Wednesday, 28 March 12
ORPHEUS ENERGY TO COMMENCE JORC DRILLING AT ADK PROJECT
COALspot.com - Indonesian coal explorer and producer, Orpheus Energy (ASX:OEG), have today announced that the company is about to commence a drillin ...
Tuesday, 27 March 12
DRY BULK MARKET KEEP RISING FOLLOWING THE SAME TREND OF LAST WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum this week, on the same reasons of those last week. That is, the smaller ship types are still on the ris ...
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- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- MS Steel International - UAE
- Economic Council, Georgia
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
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