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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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Wednesday, 14 December 11
MINER TOBA BARA SEJAHTRA PLANS IPO IN 1ST HALF OF 2012 - THE JAKARTA GLOBE
The Jakarta Globe reported that, Coal miner Toba Bara Sejahtra is aiming high next year, hoping to capitalize on renewed bullish sentiment in the lo ...
Wednesday, 14 December 11
TIMAH PLANS TO BOOST ITS COAL PRODUCTION TO TWO MILLION TONS PER ANNUM - SOURCES
COALspot.com - Timah plans to boost its coal production to two million tons per annum. The company also expects to acquire coal concession with mini ...
Wednesday, 14 December 11
BORNEO RESOURCE INVESTMENTS LTD. FINALIZES ACQUISITION OF INTEGRA PRIMA
COALspot.com - Borneo Resource Investments Ltd., announced that it has finalized the acquisition of an additional 1,300 hectare coal mining concessi ...
Tuesday, 13 December 11
BERAU COAL SCOUTS US$1.61 BIO SALES - INSIDER STORIES
Insider Stories reported that, coal mining company PT Berau Coal Energy Tbk (BRAU), that is 85% owned by London-listed company Bumi Plc, estimates a ...
Tuesday, 13 December 11
CAPESIZES AND PANAMAXES LEAD DRY BULK MARKET HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched closer to the 2,000 mark on Monday, with Panamaxes rebounding firmly and leading the gains. As a result, the industry&rsq ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
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