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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, 05 March 12
SOME RESOURCE TITANS NOT THRILLED WITH INDONESIAN EXPORT BAN - THE JAKARTA GLOBE
The Jakarta Globe reported that, local representatives of major business associations in East Kalimantan have protested a government regulation that ...
Monday, 05 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
An air of optimism poured in the market this week for dry bulk shippers with the Baltic Dry Index recording daily gains during the end of February b ...
Sunday, 04 March 12
SE ASIA WAS FIRM FOR TRIPS TO INDIA AND CHINA - VISTAAR
COALspot.com - This week saw another upward trend with all indices up and generally market was firm.
The BDI was up by 7.38 pct closing at 771 po ...
Friday, 02 March 12
DJMBP HAS ANNOUNCED SECOND BATCH OF CLEAR N CLEAN CERTIFIED MINERS
COALspot.com - The Directorate general of mineral & coal of Indonesia has announced second batch of companies who have passed IUP Clear and Clea ...
Thursday, 01 March 12
BUKIT ASAM TARGETS EUROPEAN INVESTORS
COALspot.com - PT. Bukit Asam (persero) Tbk, Indonesian state owned coal miner is planning to conduct road show in Europe next week to target at Eur ...
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Showing 4826 to 4830 news of total 6871 |
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- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Indian Energy Exchange, India
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- PTC India Limited - India
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
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