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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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Wednesday, 14 March 12
GLOBAL THERMAL TRADE FLOW CHANGES WILL ENSURE SECURITY OF THERMAL COAL SUPPLY, ALBEIT AT A HIGH PRICE - WOOD MACKENZIE
Wood Mackenzie Says Global Thermal Trade Flow Changes Will Ensure Security of Thermal Coal Supply, Albeit At a High Price Seaborne thermal demand by ...
Wednesday, 14 March 12
COKAL TAKES ANOTHER STEP IN DEVELOPING INFRASTRUCTURE TO FACILITATE METALLURGICAL COAL PRODUCTION
Global coal group, Cokal Limited (ASX-CKA), has signed Memorandums of Understanding (MoU’s) to develop two river ports and two small scale coa ...
Tuesday, 13 March 12
CLARIFICATION OF GR 24 OF 2012 REQUIRING DIVESTMENT OF FOREIGN OWNERSHIP OVER TIME
ASX Announcement
Global metallurgical coal group, Cokal Limited (ASX-CKA), is responding to the recent announcement of the Indonesian Ministry of ...
Tuesday, 13 March 12
EUROPEAN COAL CONTANGO: FURTHER STEEPNESS REQUIRED TO MAKE LARGE SCALE PHYSICAL TIME SPREAD ARBITRAGE MORE ATTRACTIVE - MISWIN MAHESH, BARCLAYS CAPITAL
COALspot.com - "With the contango between the Y+1 and M+1 ARA delivered contract now averaging above the $14/t level, there is an increasing in ...
Monday, 12 March 12
DELTA DUNIA 1M OVERBURDEN DROPS 3.1% - INSIDER STORIES
Insider Stories reported that, Indonesia's second largest coal mining contractor PT Delta Dunia Makmur Tbk (DOID) reported a 25 million bank ...
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Showing 4806 to 4810 news of total 6871 |
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- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
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