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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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Saturday, 12 November 11
DRY BULK MARKET REGAINS SOME OF THE LOST GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market managed to edge forward yesterday, putting an end and halting the losses accumulated over the course of the past weeks, which ha ...
Friday, 11 November 11
PETROCOM ENERGY PLANS $40M TO BUILD COAL PLANT IN CILEGON - JP
The Jakarta Post reported that, Hong Kong-based Petrocom Energy Ltd has unveiled plans to invest up to US$40 million on a proposed coal-blending fac ...
Friday, 11 November 11
GOVT WAITS LEGAL DECISION ON BUKIT ASAM, ADARO DISPUTE - JP
The Jakarta Post reported that, The government says that it will not interfere in the settlement process of the dispute between state coal miner PT ...
Thursday, 10 November 11
INDONESIAN REFERENCE COAL PRICE FELL AGAIN
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the November 2011 Indonesian Coal Reference Price for thermal coal at U ...
Tuesday, 08 November 11
COAL MINER ABM INVESTAMA PLANS $290M PUBLIC OFFERING - JG
The Jakarta Globe reported that, ABM Investama, an Indonesian coal miner controlled by the Hamami family, plans to raise as much as Rp 2.6 trillion ...
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- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Parliament of New Zealand
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Australian Coal Association
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
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