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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, 27 December 11
MINERS MAKE CASE FOR RESUMING CONTRACT NEGOTIATIONS - THE JAKARTA POST
The Jakarta Post reported that, problems with the renegotiation of mining contracts in the country are far from over, as agreements on several cruci ...
Tuesday, 27 December 11
COAL SHIPMENT OF TIANJIN PORT REACHED 6.72 MLN TONNES IN NOVEMBER - STEEL HOME / HELLENIC SHIPPING
Tianjin port shipped 6.72 million tonnes of coal in November, decreasing 600,000 tonnes versus 7.32 million tonnes in October, while up 21.09% or 1. ...
Tuesday, 27 December 11
NEW CLAUSE PUBLISHED FOR SLOW STEAMING - BIMCO
Many owners and operators faced with high bunker prices are considering implementing slow steaming regimes to save fuel and to assist with capacity ...
Monday, 26 December 11
NEW EXPORT TAX PLAN GREETED WITH PRAISE AND CRITICISM - THE JAKARTA POST
The Jakarta Post, one of the Indonesia's leading english news paper reported that, both praise and criticism showered the government’s plan t ...
Sunday, 25 December 11
THERMAL COAL PRICES GAINED UP TO 4.32 PERCENT
COALspot.com - globalCOAL index gained 4.32 percent to US$106.36 per ton in RBCT, benchmark for South Asia and West Europe markets, for the week end ...
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Showing 4911 to 4915 news of total 6871 |
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- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Australian Coal Association
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- PTC India Limited - India
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
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