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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, 26 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The Baltic Dry Index follows its upward incline for fourth consecutive week by rising to more than 900 points, up by 37% from the bottom low in the ...
Monday, 26 March 12
GOLDEN MINES FY11 REVENUE JUMPS 209% - INSIDER STORIES
Insider Stories reported that, coal miner PT Golden Energy Mines Tbk (GEMS), that is controlled by Sinar Mas Group, recorded a 209% jump in revenue ...
Saturday, 24 March 12
AUSTRALIA'S MINERAL TAX : BENCHMARK FOR OTHER COUNTRIES - SUNIL K KUMBHAT
COALspot.com - Natural resources rich counties like Australia , Indonesia , South Africa , Brazil etc are going through a spectacular resources boom ...
Saturday, 24 March 12
THE AVERAGE CHARTER RATES WAS AT CAPESIZE $ 4,546 PER DAY VS SUPRAMAX / $ 10,819 PER DAY - VISTAAR
COALspot.com - The BDI crossed 900 points this week closing at 908 points up by 3.89 pct. All other sectors were up except for cape index whic ...
Thursday, 22 March 12
ECI-CHINA HANDY RATES ARE AROUND US$ 8000 - FEARNLEYS
Handy
Another positive trend was seen last week with more cargoes entering the market. Skaw-Passero/US Gulf climbed slowly up to USD 3700, while US ...
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- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Central Java Power - Indonesia
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
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