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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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Thursday, 22 December 11
DRY BULK MARKET KEEPS LOSING TRACTION AHEAD OF HOLIDAY SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept retreating in the middle of the week, as charterers seem to be looking towards the holiday season and the start of the new ye ...
Tuesday, 20 December 11
THE COAL IMPORT INTO CHINA WAS QUIETER AS COAL STOCKS WERE AT HIGH LEVELS - BRS
The BDI ended the week at 1888 points (-1.8%), the BCI corrected to 3572 (-3.4%), the BPI was up at 1,775 (+3.6%), the BSI dropped to 1193 (-3.0%) a ...
Tuesday, 20 December 11
INDIA IMPORTS 66.41 PERCENT MORE COAL FROM INDONESIA LAST MONTH - SOURCES
COALspot.com: Indonesia, the world largest coal exporter, shipped 33.476* mln mt of coal in November, which is slightly higher than its Octobe ...
Monday, 19 December 11
KOPEX COMMITS ADDITIONAL ONE MILLION DOLLAR FOR PT TRANSCOAL MINERGY
COALspot.com - Mining contractor Kopex has agreed to extend a further US$1 million to finance the remainder of the expanded drill program at PT Tran ...
Monday, 19 December 11
PLN WILL NO LONGER BUY COAL FROM TRADERS
COALspot.com - Indonesia's state electricity company PT Perusahaan Listrik Negara will no longer allow traders to become their suppliers, said, its ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- SMC Global Power, Philippines
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- PTC India Limited - India
- GVK Power & Infra Limited - India
- White Energy Company Limited
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
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