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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, 10 January 12
THE 4TH DEEPWATER ASIA CONGRESS 2012 WILL KICK OFF ON MAY 23 - 25
Press release - Based on the past three years’ success, SZ & W Group is excited to announce the 4th Deepwater Asia Congress will be held o ...
Monday, 09 January 12
2012: WHAT WILL IT BRING FOR THE DRY BULK MARKET? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A further increase in dry bulk demand could be the remedy for most of the industry's oversupply issues, together of course with the high level of s ...
Sunday, 08 January 12
ICICI OUTLOOK ON INDIAN POWER, MINING,CEMENT, AND SHIPPING SECTORS PERFORMANCE IN 2012
Broking firm, ICICIdirect (India) has come out with report on sectors outlook for 2012. IRIS has collated key highlights for each sector from ...
Sunday, 08 January 12
SUPRAMAX DELIVERY SOUTH CHINA FOR TRIPS VIA INDONESIA WERE REPORTED AROUND $ 7000 PER DAY - VISTAAR
Wish You a Very Happy and Prosperous New year 2012.
COALspot.com - The last report by us was on 16th Dec 2011 and because of holidays this would ...
Sunday, 08 January 12
THARPAK CONSORTIUM FORMED TO DEVELOP MEGA ENERGY COMPLEX IN SINDH PROVINCE, PAKISTAN
Press Release: On January 5th, TharPak, LLC met with officials of the Embassy of Pakistan in Washington DC to introduce and announce the formation o ...
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- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- MS Steel International - UAE
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- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
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