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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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Thursday, 26 January 12
ABM INVESTAMA SEALS US$100 MIO CONTRACT - INSIDER STORIES
Insider Stories reported that, PT Reswara Minergi Hartama, a subsidary of PT ABM Investama Tbk (ABMM), has sealed a 2 million tons of coal export co ...
Thursday, 26 January 12
DRY BULK MARKETS DOWNFALL KNOWS NO LIMITS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s demise seems to have no visible end, as China’s Lunar Year Holidays continue this week, thus leaving demand with n ...
Wednesday, 25 January 12
CLEAN AND CLEAR MINING PERMITS TO BE COMPLETED END OF 2012 - BISNIS.COM
Bisnis.com reported that, the government plans to announce 700 mining permits with "clean and clear" status without overlapping on other p ...
Tuesday, 24 January 12
ANOTHER SEVERE DROP IN THE CAPESIZE - BRS
The lunar year celebrations and the high number of new building deliveries (more than 35 Capes so far in January as owners push 2011 deliveries into ...
Tuesday, 24 January 12
BUKIT ASAM FY11 NET PROFIT SURGES 50% - INSIDER STORIES
Insider Stories reported that, the state-controlled PT Bukit Asam Tbk (PTBA) estimated to book Rp3 trillion (approximately US$ 335,570,469) net prof ...
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- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Planning Commission, India
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
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