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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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Saturday, 04 February 12
SUPRAMAX DELIVERY SOUTH CHINA FOR TRIPS VIA INDONESIA WERE REPORTED AROUND $ 6,000 PER DAY - VISTAAR
COALspot.com - The markets continued to soften which dropped by almost 11 pct and BDI closing at 647 points.
The drop in BDI was mainly due to dr ...
Thursday, 02 February 12
NO RELIEF YET FOR DRY BULK SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although at the start of 2012 nobody can claim that the global seaborne trade has suddenly come to a halt, quite the contrary, it seems that the dry ...
Wednesday, 01 February 12
KRISHNAPATNAM PORT - GOING DEEP TO SOAR HIGH
COALspot.com - Krishnapatnam Port now rightfully claims as the deepest draft port in India, as it has started accepting vessels with maximum permiss ...
Wednesday, 01 February 12
IN JAMBI, MOST MINING COMPANIES LACK 'CLEAR-AND-CLEAN' PERMITS - JP
More than three-quarters of the 386 mining companies in Jambi lack “clear-and-clean” certifications from the government, according to an ...
Wednesday, 01 February 12
2% OF IBPS TOTAL CONCESSION AREA CONTAINS TOTAL COAL RESOURCE OF 56.1 MILLION TON
COALspot.com - PT. Britmindo, a mine consulting firm, has finalized PT. Insani Bara Perkasa (IBP) first JORC (Joint Ore Reserves Committee) res ...
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- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- The University of Queensland
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- MS Steel International - UAE
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
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