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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, 01 January 12
IS INDIA FOLLOWING INDONESIA TO STANDARDIZE COAL PRICES TO GET MAXIMUM BENEFITS?
COALspot.com - Coal India limited, an Indian state owned and world largest coal producer has introduced gross calorific value (GCV) based pricing me ...
Saturday, 31 December 11
GLOBALCOAL NEWC INDEX SURGED 2.32 PERCENT
COALspot.com - globalCOAL index in Newcastle Port, benchmark for Asian market, ended substantially higher, surged 2.32 percent to US$115.47 per ...
Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE
The Jakarta Globe, one of the leading english news paper in Indonesia reported yesterday, shareholders of Indonesian coking coal miner Borneo Lumbun ...
Friday, 30 December 11
CENTRAL GOVERNMENT SHOULD ISSUE PERMITS - THE JAKARTA POST
The Jakarta Post reported that, business associations from both the palm oil and mining sectors have suggested that the central government should re ...
Thursday, 29 December 11
NEW VESSELS DELIVERED ARE FLOODING THE OCEANS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As expected 2011 has been the year that newbuilding deliveries peaked and kept "flooding" the market, thus supressing freight rates and er ...
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- Australian Coal Association
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
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