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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, 18 November 11
MMTC SEEKS 1.365 MMT OF IMPORTED COAL
COALspot.com - India's MMTC, the largest trading company of India and a major trading company of Asia, has issued a term supply tender for 1.365Mt ...
Friday, 18 November 11
KPC, ARUTMIN OUTPUT REACHED 47.1 MIO TONS - INSIDER STORIES
PT Kaltim Prima Coal (KPC) and PT Arutmin Indonesia, reported 47.1 million tons of coal production in 9M 2011, according to Indiser Stories.
Insi ...
Friday, 18 November 11
THE ATLANTIC SUPRAMAX MARKET EXPERIENCED A STEADY AND FIRM TENDENCY
Handy
The Atlantic Supramax market experienced a steady and firm tendency this week. Especially the North Atlantic and Mediterranean position ...
Friday, 18 November 11
BERAU COAL 9M PROFIT SOARS 194.46% - INSIDER STORIES
Insider Stories reported that, PT Berau Coal Energy Tbk (BRAU), which is 84.7% owned by Bumi Plc, reported a 194.46% jump in net profit by end of Se ...
Thursday, 17 November 11
DRY BULK MARKET INCHES FORWARD AND INTO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market edged higher yesterday, on the back of stronger demand for Capesize vessels and general improvement of sentiment on most of the ...
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- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- The University of Queensland
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- MS Steel International - UAE
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Central Electricity Authority - India
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