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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, 31 January 12
THERE ARE MANY GOOD REASONS FOR COAL IN GERMANY - DR CIESLIK
COALspot.com - "The year 2011 was again marked by many changes on the markets and energy policies, at times in line with expectations, but at o ...
Tuesday, 31 January 12
DRY BULK MARKET KEEPS FALLING FOR WORST MONTH IN YEARS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market didn't manage to put a halt in its downfall, with the industry's benchmark, the BDI (Baltic Dry Index), posting yet another fa ...
Monday, 30 January 12
CHINA'S HUNGER FOR COAL LEAVES DENT IN PENNSYLVANIA'S SUPPLY - THOMAS LESKIN
With the price of heating oil on the rise, one of Pennsylvania's greatest natural resources - coal - is in high demand, and not just locally.
Et ...
Saturday, 28 January 12
WILL FREIGHT MARKET STABILIZE FROM NEXT WEEK?
COALspot.com - The markets continued to soften with BDI at 663 points down by 15.78 pct closing at 726 points and cape index was down by 5.73 pct cl ...
Friday, 27 January 12
DEMOLITION ACTIVITY NEEDS TO INCREASE SIGNIFICANTLY THIS YEAR AS WELL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The oversupply of vessels in most shipping sectors is so intense that it’s become clear to ship owners that unless they scrap as many of their ...
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- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
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