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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, 05 December 11
SGX LAUNCHED IHS MCCLOSKEY/XINHUA INFOLINK OTC CFR SOUTH CHINA COAL CONTRACT TODAY
COALspot.com - In order to meet the demand of the coal industry for an effective coal hedging tool with counterparty credit risk mitigation facility ...
Monday, 05 December 11
DRY BULK RATES LOOKING TO EXTEND GAINS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize dry bulk carrier owners have had a great week, with rates rising for six straight sessions (including the end of the week before that). As ...
Sunday, 04 December 11
SUPRAMAX TRIPS VIA INDONESIA WERE REPORTED AROUND $ 7500 - 8000 PD
COALspot.com - The BDI and Cape index recovered this week. The BDI was up by 3.26 pct and Cape index saw a big jump and closed at 3409 points (up by ...
Saturday, 03 December 11
BORNEO TO SPEND US$600 MIO CAPEX - INSIDER STORIES
Insider Stories reported that, Coking coal miner PT Borneo Lumbung Energi & Metal Tbk (BORN) plans to spend US$600 million capital expenditure ( ...
Friday, 02 December 11
DRY BULK CARRIERS BACK IN THE SPOTLIGHT AS MARKET SPEEDS UP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the tanker and container markets suffering dearly, it seems that the tide has once again turned in favor of the dry bulk carriers, despite over ...
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- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Economic Council, Georgia
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
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