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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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Friday, 10 February 12
TONNAGE KEEPS ON COMING - DREWRY
Drewry Maritime Research’s latest edition of its Dry Bulk Forecaster pulls no punches in its assessment of a market that looks certain to cont ...
Friday, 10 February 12
GIVE PERMIT POWERS TO GOVERNORS: MINERS - THE JAKARTA POST
The Jakarta Post reported that, following clashes between mining companies and local residents, the Indonesian Mining Association (IMA) wants to tra ...
Thursday, 09 February 12
AUSTRALIA'S EPIC TO ACQUIRE 15,500 HA COAL EXPLORATION LICENCES IN EAST KALIMANTAN, INDONESIA
COALspot.com - Epic Resources Limited to acquire two coal concessions in Kutai Barat regency, East Kalimantan, Indonesia.
According to company's ...
Thursday, 09 February 12
RESOURCE ALAM BUYS 28,521HA CONCESSIONS - INSIDER STORIES
Insider Stories reported that, PT Resource Alam Indonesia Tbk (KKGI), owned by Adijanto family, today announced acquisition of 75% interest in PT Ka ...
Tuesday, 07 February 12
DRY BULK MARKET FINALLY STOPS DECLINE, POSTS FIRST RISE IN MORE THAN A MONTH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After falling to near record lows, not seen since the mid-80s the dry bulk market has finally stopped its path to "hell", with the industr ...
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- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- The Treasury - Australian Government
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
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