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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, 08 December 11
HAREDA KRIDA GETS CONTRACT FROM BAYAN - INSIDER STORIES
Insider Stories reported that, coal miner PT Bayan Resources Tbk (BYAN), through its subsidiary dubbed PT Gunungbayan Pratamacoal (GPB), has signed ...
Thursday, 08 December 11
CAPESIZES LIFT DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize vessels yesterday helped lift the dry bulk market which had been falling since the start of the week on lower cargo demand. As a result the ...
Wednesday, 07 December 11
ABM INVESTAMA EYES RP6.3 TRIO REVENUE - INSIDER STORIES
Insider Stories reported that, an energy integrated company PT ABM Investama Tbk is eyeing a 1.5 folds increase in revenue this year from Rp4. ...
Tuesday, 06 December 11
DRY BULK MARKET ENDS RALLY, STARTS WEEK WITH FALL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a series of increases which saw the dry bulk market’s benchmark, the Baltic Dry Index (BDI) increasing close to 1,900 points and rates o ...
Monday, 05 December 11
THE DECEMBER HBA FELL 11% FROM ITS PEAK AT US$127.05 PER TON IN FEBRUARY 2011
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the December 2011 coal reference price at US$ 112.67 per ton US$ 3.98 ...
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- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Posco Energy - South Korea
- London Commodity Brokers - England
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
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