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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, 08 March 12
INDONESIA'S COAL SECTOR CAN BENEFIT FROM CLEARER REGULATIONS - FITCH RATINGS
Fitch Ratings says Indonesia's coal mining sector should continue to see strong growth prospects but can benefit from clearer and more predictable ...
Thursday, 08 March 12
DRY BULK MARKET ON THE RISE; CHINAS COAL IMPORTS COULD INCREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on rising back to healthier levels yesterday, with the BDI (Baltic Dry Index) the industry’s benchmark, marking its 8 ...
Wednesday, 07 March 12
INDONESIA COAL BENCHMARK PRICE GAINS FOR SECOND MONTH
COALspot.com - Indonesia raised the monthly coal reference price for sales in March by 1.15 percent, the second increase since February.
The Mini ...
Wednesday, 07 March 12
INDONESIA TO LIMIT FOREIGN OWNERSHIP IN MINES TO 49 PERCENT WITHIN 10 YEARS OF PRODUCTION
COALspot.com - Foreign holders of mining licenses in Indonesia have to divert 51% of their stakes to Indonesian government or domestic entitie ...
Wednesday, 07 March 12
ASSESS ASIAS POTENTIAL, DEVELOPMENTS AND APPETITE FOR SHALE AT SHALE GAS SUMMIT
Press Release - Assess Asia’s Potential, Developments and Appetite for Shale at Shale Gas Summit on 23-24 Apr, 2012 in Beijing
China is rep ...
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- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Parliament of New Zealand
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
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