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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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Saturday, 17 March 12
THE FREIGHT RATES FOR INDONESIA TO INDIA REMAINED FIRM - VISTAAR SINGAPORE
COALspot.com - The market continued to be firm and all segments were up except for Cape Index which was down by 2.46 pct closing at 1,466 points.
...
Saturday, 17 March 12
INDIAN GOVT FINALIZES DRAFT BILL FOR COAL REGULATOR - PTI
The coal sector would soon get a regulator as the government has finalised a draft bill for the purpose, Coal Minister Sriprakash Jaiswal said Wedne ...
Friday, 16 March 12
THE PACIFIC MARKET IS FIRMING UP - FEARNLEYS AS
Handy
A slightly positive trend was seen last week in the Atlantic. Skaw-Passero deliveries fixed around USD 3k to US Gulf, while US Gulf deliveres ...
Thursday, 15 March 12
RAINS AVERAGE SELLING PRICE OF COAL WENT UP BY 22 % IN 2011
COALspot.com - PT. Resource Alam Indonesia Tbk, an Indonesian CCoW (3rd Generation) holder reported Wednesday a 171 percent increase in net profits ...
Thursday, 15 March 12
RESOURCE ALAM FY11 PROFIT UP 171% - INSIDER STORIES
Insider Stories reported that, coal mining company PT Resource Alam Indonesia Tbk (KKGI) reported a 171.16% jump in net profit last year on the back ...
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- Agrawal Coal Company - India
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Economic Council, Georgia
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- GMR Energy Limited - India
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
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