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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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Sunday, 19 February 12
THE SPOT FIXTURE RATES WERE REPORTED AT HIGH LEVELS - VISTAAR
COALspot.com - "The markets seems to holding back this week appears the momentum which picked up last week may slow down" - Capt. Reddy of ...
Sunday, 19 February 12
INDIKA ACQUIRES MULTI TAMBANGJAYA - INSIDER STORIES
Insider Stories reported that, PT Indika Energy Tbk (INDY) announced that wholly-owned subsidiaries have signed a conditional sale and purchase agre ...
Friday, 17 February 12
COLOMBIA COAL PRODUCTION, EXPORTS JUMP IN 2011: GOVT - COLOMBIA REPORTS
Colombia Reports reported that, colombia's coal production jumped 15.4% in 2011 to 85.8 million tonnes versus the previous year while exports rose ...
Thursday, 16 February 12
GEARING UP FOR THE EMERGING OIL & GAS OPPORTUNITIES IN MYANMAR
Press Release - Myanmar Ministry of Energy and Centre for Management Technology (CMT) to Co-host MOGP (Myanmar Oil, Gas & Power) Summit on 28 - ...
Wednesday, 15 February 12
HBA FOR FEB 2012, CLIMBS 2.09 PERCENT AND REACHED US$ 111.58 PER TON
COALspot.com - The Indonesian coal reference price for February climbs 2.09 percent to US$111.58 per ton after losing past three months. ...
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- Ministry of Finance - Indonesia
- Economic Council, Georgia
- London Commodity Brokers - England
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
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