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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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Tuesday, 21 February 12
THREAT ISSUED ON MINERAL FIRMS AS GOVT PLANS EXPORT BAN - THE JAKARTA POST
The Jakarta Post, one of the leading english news papaer in Indonesia reported that, the government has given mineral producers three months to subm ...
Monday, 20 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU
The dry market experienced one more disappointing week with tonnage oversupply and limited cargo demand that pushes earnings for shipping players to ...
Monday, 20 February 12
JATENERGY SECURES FIRST 8000-TONNE COAL SALES CONTRACT FOR JONGKANG MINES
8000-tonne contract with Singaporean buyer signed for March delivery
50% down payment due in five working days
Production continues at both Jongka ...
Monday, 20 February 12
DIAN SWASTATIKA ACQUIRES ANDALAN LESTARI - INSIDER STORIES
Insider Stories reported that, PT Dian Swastatika Sentosa Tbk (DSSA), controlled by Fuganto Widjaja, son of Indra Widjaja, reported a 99.83% takeove ...
Monday, 20 February 12
COAL BOOM AND ENVIRONMENTAL CONCERN - SUNIL K KUMBHAT
COALspot.com - The dawn of the 21st century has seen a shift in the world's commercial balance of power, with the dominance of the US, Europe and J ...
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- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Planning Commission, India
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Australian Coal Association
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Thai Mozambique Logistica
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
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