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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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Monday, 12 December 11
DRY BULK MARKET LOOKING FOR BALANCE AS WE ENTER 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
During the past few months, freight rates for dry bulk carriers, especially Capesizes have increased significantly, providing ship owners with a muc ...
Sunday, 11 December 11
THE PANAMAX INDEX ENDED ON POSITIVE DIRECTION - VISTAAR
COALspot.com - The BDI and Cape index continued the upward trend this week also with BDI up by 3.00 pct closing at 1,922 points and Cape index up by ...
Saturday, 10 December 11
MAHAKAM RIVER RESUMES COAL TRANSPORTATION
COALspot.com - East Kalimantan local government has resumed limited coal barging through Mahakam River after two weeks of suspension following the c ...
Friday, 09 December 11
DRY BULK MARKET REBOUNDS ON HEALTHIER DEMAND OUTLOOK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market edged forward yesterday, at the highest rate of the past couple of weeks, as a result of stonger iron ore demand, backed by lowe ...
Thursday, 08 December 11
INDIA MAY SEE 41% ANNUAL GROWTH OF ITS COAL DEMAND DURING THE NEXT 5 YEARS - ICAP SHIPPING
India’s Ministry of Coal expects that India’s coal demand may face an annual 41% rise during the next 5 years, while its coal deficit is ...
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- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- ASAPP Information Group - India
- Parliament of New Zealand
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
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