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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, 07 March 12
3RD MOZAMBIQUE COAL CONFERENCE
3rd Mozambique Coal Conference
2-4 July 2012 | Joaquim Chissano International Conference Centre , Maputo, Mozambique
http://www.immevents.com/mo ...
Wednesday, 07 March 12
DRY BULK MARKET KEEPS UP TIMID REBOUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its rising momentum yesterday, rising for the eighth straight session, on the back of renewed demand for smaller bulk c ...
Wednesday, 07 March 12
BUKIT ASAM EYES 39% RISE IN COAL SALES - INSIDER STORIES
Insider Stories reported that, PT Bukit Asam Tbk is scouting a 39% increase in coal sales volume to 18.66 million tons this year from last year with ...
Wednesday, 07 March 12
PETROSEA SEALS US$188 MIO CONTRACT - INSIDER STORIES
Insider Stories reported that, coal mining contractor PT Petrosea Tbk has secured a US$188 million additional contract from its affiliated firm PT S ...
Monday, 05 March 12
SOUTHGOBI ANNOUNCES AGREEMENT TO SELL ITS THERMAL COAL TSAGAAN TOLGOI DEPOSIT FOR US$ 30 MILLION
SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) announced today an agreement to sell its thermal coal property, the Tsagaan Tolgoi Deposit to Modun Re ...
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- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- The University of Queensland
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- PTC India Limited - India
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
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