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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, 07 January 12
COAL MARKETS SEE FALLING SPOT PRICES
COALspot.com – World’s thermal coal spot prices have slipped this week..
globalCOAL index in Newcastle Port, benchmark for Asian mark ...
Friday, 06 January 12
COAL INDIA LINKED COAL PRICES WITH INTERNATIONAL COAL PRICES
COALspot.com - Consumers of indigenous coal in India to pay International prices in the future. Coal India has recently moved from UHV pricing mecha ...
Friday, 06 January 12
CLARIDEN GLOBAL BRINGS YOU INDONESIA MINING 2012
Capitalizing Business & Investment Opportunities in an Uncertain Market.Press Release - Clariden Global brings you Indonesia Mining 2012, the dedi ...
Friday, 06 January 12
THE PANAMAX MARKET EXPERIENCED A SLOW START TO 2012 - FEARNLEYS AS
Handy
As usual after a holiday owners and charterers both try to get a feel of the market. An Armada of Supras were talking to ballast towards USG, ...
Thursday, 05 January 12
DRY BULK MARKET TAKES A PLUNGE OF LOW ACTIVITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected the first days of the new year are characterized by significantly low chartering across the board of the dry bulk market, pus ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- MS Steel International - UAE
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
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