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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, 07 November 11
CHINA'S COAL IMPORTS STEAM AHEAD
Chinese seaborne coal imports have grown greatly in recent years, up from 39.2mt in 2008 to 167.7mt in 2010, with the result that China became a net ...
Saturday, 05 November 11
DEMAND SLUMP THREATENS MORE PAIN FOR BULK VESSELS - VISTAAR
COALspot.com - The market continued to fall with BDI dropping below 2,000 points by around 10 pct and closing at 1817 points. The cape index also co ...
Saturday, 05 November 11
BERAU STARTS TO EXPLORE BINUNGAN SITE - INSIDER STORIES
Insider Stories reported that, coal miner PT Berau Coal, a 90% owned subsidiary of PT Berau Coal Energy Tbk (BRAU), is busy to hold exploration in B ...
Friday, 04 November 11
INDIAN IRON ORE MARKET REMAINS DEAD - FEARNLEYS
Handy
The Atlantic market kept its strong position from last week. Even with fewer fixtures reported. Fronthauls still around 25k, wit ...
Thursday, 03 November 11
DRY BULK MARKET OFFICIALLY IN THE RED ON LOWER CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept falling yesterday, on lower iron ore demand, which has caused the industry’s benchmark, the BDI (Baltic Dry Index) to ...
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- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Parliament of New Zealand
- White Energy Company Limited
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Eastern Coal Council - USA
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