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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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Friday, 25 November 11
DISPUTE BETWEEN GIANT MINING FIRMS ENDS IN LAHAT - THE JAKARTA POST
The Jakarta Post reported that, prolonged dispute taking place in the South Sumatra regency of Lahat and involving two giant mining companies PT Buk ...
Friday, 25 November 11
DRY BULK MARKET LOSING STEAM, FAST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It’s been a week of falls for the dry bulk market this one, leaving ship owners with a sour taste in their mouths, as evidence of a recovery i ...
Thursday, 24 November 11
INDONESIA/INDIA SPMX TC AROUND $ 7/8K AND AROUND $ 12/13.00 PMTS ON VOYAGE BASIS - FEARNLEYS
Handy
Last week ended on a positive note in the Atlantic however the activity levels are somewhat reduced. Owners are asking in excess of USD ...
Thursday, 24 November 11
DRY BULK MARKET KEEPS LOSING STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was lower once again on Wednesday, with the industry’s benchmark, the Baltic Dry Index (BDI) ending the session down by 1. ...
Tuesday, 22 November 11
NTPC TO BUY 2 MMT OF IMPORTED COAL FOR ITS FOUR PLANTS
COALspot.com - NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government of India, the largest thermal power generati ...
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- Sical Logistics Limited - India
- The Treasury - Australian Government
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- The University of Queensland
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Planning Commission, India
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
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