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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, 12 March 12
DRY BULK RATES WILL REMAIN LOW IN 2012 SAYS DANISH SHIP FINANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its annual shipping survey Danish Ship Finance said that the current outlook for the Dry Bulk market seems unlikely to foster higher rates in any ...
Monday, 12 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first days of March appear to be more encouraging for dry bulk operators, but the outlook is still gloomy for the rest of year with earnings for ...
Sunday, 11 March 12
FREIGHT RATES FOR INDONESIA TO INDIA WILL CONTINUE TO REMAIN FIRM- VISTAAR
COALspot.com - This week saw another upward trend with all indices up except for the Cape index.
The BDI was up by 6.87 pct closing at 824 points ...
Friday, 09 March 12
MINING IN INDONESIA: RESTRICTION ON FOREIGN INVESTMENT - SUNIL K KUMBHAT
COALspot.com - Recently Govt has passed regulation instructing foreign mining companies to reduce their ownership stake.
The regulation known as ...
Friday, 09 March 12
SHIP OWNERS LOOKING TO CHINA FOR REVIVAL, WHILE THEY KEEP SELLING OLD SHIPS FOR SCRAP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With China’s economic policy plan for the future on every ship owner’s mind, at least those involved in the dry bulk industry, the lates ...
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- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
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