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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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Tuesday, 22 November 11
ABM INVESTAMA SETS IPO AT RP 3,750
Insider Stories reported that, Integrated energy company PT ABM Investama Tbk has determined the IPO price at Rp3,750 (approximately US$ 0.415) per ...
Tuesday, 22 November 11
A SURPRISINGLY STRONG WEEK FOR THE CAPES - BRS
Positive gains for most of the segments this week, the exception being the Handysizes. Overall the BDI ended the week at 1,895 points (+3.3% week-on ...
Tuesday, 22 November 11
APPETITE FOR DRY BULK VESSELS SLOWS DOWN AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was down at the beginning of the week, as demand for Capesize vessels was particularly low. The industry’s benchmark, the ...
Monday, 21 November 11
CAPESIZES DRIVE MARKET LOWER, ANALYSTS DIVIDED ON DRY BULK OUTLOOK IN THE LONG RUN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market ended the week on a sour note, with the industry’s benchmark heading downwards to 1,895 points, which represented a slight ...
Sunday, 20 November 11
THE FREIGHT MARKETS EXPECTED TO BE FIRM NEXT WEEK - VISTAAR
COALspot.com - The market continued to move up with all sectors gaining except for handy size.
The BDI was up by 3.26 pct and closed at 1895 poin ...
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- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Aditya Birla Group - India
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- The University of Queensland
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
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