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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, 15 January 12
THE FREIGHT MARKET CONTINUED TO BLEED - VISTAAR
COALspot.com - "The markets continued to bleed with BDI touching almost 1000 points , almost reaching the collapse of 2008 levels," said C ...
Saturday, 14 January 12
GOLDEN MINES TO SUPPLY 4 MIO TONS - INSIDER STORIES
Insider Stories reported that, Coal miner under Sinarmas Group PT Golden Energy Mines Tbk (GEMS), a subsidiary of PT Dian Swastatika Sentosa Tbk (DS ...
Friday, 13 January 12
DIFFICULT START OF 2012 FOR DRY BULK MARKET SEEN HARD TO CHANGE IN THE COURSE OF THE YEAR, UNLESS DEMOLITION PICKS UP
The dry bulk market has been on a freefall this week after a rocky start to the new year. Yesterday, the BDI (Baltic Dry Index) the industry's benc ...
Thursday, 12 January 12
DRY BULK MARKET CRASHING AT START OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept being on freefall mode yesterday, with the industry's benchmark, the BDI (Baltic Dry Index) losing a massive 5.17% on ...
Wednesday, 11 January 12
NEWBUILDING ORDERS DECLINE, AS SHIP OWNERS REALIZE OVERSUPPLY WILL "KILL" THEM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With 2012 now underway, it will be rather interesting to see how ship owners will play the "newbuilding ordering" card to their favor, as ...
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- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Planning Commission, India
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Australian Coal Association
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
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