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Saturday, 24 December 11
CHINAS LEVEL OF GROWTH TO DETERMINE COURSE OF DRY BULK MARKET IN 2012 SAYS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 In its latest report, shipbroker Intermodal attempted to find a silver lining in the tough year that was 2011, as well as what one could expect from 2012, drawing the conclusion that everything points to China. According Mr. George Lazaridis from Intermodal, “only a week back, China celebrated its 10th anniversary of joining the WTO. During this period its GDP growth set new records and a country whose GDP in 1995 was on par with the Greek GDP of 2011 (!!!), it propelled itself over this past decade to becoming the second largest economy in the world.
Chen Deming, head of China's Ministry of Commerce, said recently at the eighth WTO Ministerial Conference, that China will become the world's largest importer in 2020 due to its expanding market. This may not be as farfetched as some pundits would claim, as intra-Asian trade has grown exponential over the past decade, while it was China’s internal demand that helped keep most of the Asian markets away from the problems faced in Europe and America since the financial crisis” he said.
He went on to mention that “these days however, the on-going policy of tightening and decreasing external demand, combined with decelerating investment as the fiscal stimulus unwinds, has resulted in China’s GDP growth forecasts to come off by 0,5% to (a still staggering) 9% p.a. With China playing a major role in global seaborne trade, many fear that a slowdown in its growth would immediately translate into a slowdown in demand growth for ships. Though this may turn out to be true, due to the fact that much of its industrial production is heavily reliant on importing of raw materials from far away locations, global tone-mile demand growth for most vessel types may even increase. This is based on the assumption that most of the new demand for raw materials will be covered by areas such as South America, Australia and West Africa. These trade routes carry a much higher tone-mile demand than the average route, meaning that demand for ships may increase at a faster pace than global trade volumes.
Although this may be considered a highly optimistic scenario for many in the Shipping industry, what remains certain is that for yet another year China leads the demand for seaborne trade and as such the shipping market’s prospects are closely tied for the moment to that of Chinese trade developments, for better or for worse” concluded Lazaridis.
Meanwhile, a lot could be done to help the market recover to even healthier levels of freight rates, if ship owners are willing to continue the record pace of demolition activity set during 2011. During the course of the past week, according to Piraeus-based shipbroker’s report, “the scrapping activity has shown signs of firmness this week, while scrap prices are still squeezed downwards with Bangladesh demolition ban being still in effect. The Rupee remains weak against the dollar with scrap buyers offering $465/ldt for dry/general and $495/ldt for wet cargo. Pakistan has narrowed its price gap with Alang cash buyers, but it still struggles to attract vessels for beaching. China has improved its levels by attracting this week dry units at about $400/ldt. Market rumors for a late Bangladesh market upturn do not support a prompt spike in scrap levels; whereas the recent dry euphoria do not stimulate further vessels’ disposals in the capesize segment. In the tanker market, rumors circulated in the market for two more double hull VLCCs, built 1996 and 1998, being sent for disposal by Japanese shipping giant Mitsui OSK Lines (MOL). This decision describes the dire freight market and gives an incentive for other wet operators to follow in similar movements as a step to ease the oversupply pain.
The week ended with 15 vessels reported to have been headed to the scrap yards of total deadweight 1,011,574 tons. In terms of the reported number of transactions, the demolition activity has been marked with a 114% week-on-week increase and regarding the total deadweight sent for scrap there has been a 370% increase. In terms of scrap rates, the highest scrap rate has been achieved this week in the container segment by India for M/V “MSC MAHIMA” with 16,143/ldt at $517/ldt due to decent country built, non ferrous content and vessels equipment with full spares. India has attracted 53% of the total demolition activity with China winning 4 bulk carriers and one liner unit. At a similar week in 2010, demolition activity was down by 53% from the current levels, in terms of the reported number of transactions, 7 vessels had been reported for scrap of total deadweight 575,804 tons with tankers grasping 71.4% of the total number of vessels sent for disposal. India and Pakistan had been offering $440-445/ldt for dry and $475/ldt for wet cargo, while Bangladesh market had been inactive from the demolition scene” concluded Golden Destiny.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 06 September 24
REBOUND IN OIL DEMAND COULD LIFT MARKET IN LATTER HALF OF 2024 - BIMCO
Supply/demand
Based on a strong second half demand, the supply/balance is forecast to strengthen in 2024 but weaken slightly in 2025 as n ...
Friday, 06 September 24
GLOBAL SEABORNE LNG TRADE HAS CONTINUED TO INCREASE LAST YEAR - BANCHERO COSTA
Global seaborne LNG trade has continued to increase last year, helped also by the events in Ukraine which forced Europe to diversify away from Russ ...
Wednesday, 28 August 24
SEABORNE COAL IMPORTS INTO INDIA INCREASED BY +9.9% Y-O-Y TO 146.6 MLN T - BANCHERO COSTA
Global coal trade has really picked up pace over the past year, and is now fully back to pre-Covid levels said Banchero Costa Research in its lates ...
Tuesday, 06 August 24
EXERCISE CAUTION WITH AMMONIA SWITCH - BALTIC EXCHANGE
A new study from the Massachusetts Institute of Technology (MIT) has thrown a spanner into the plan to transition ships from diesel fuel to ammonia ...
Friday, 02 August 24
ENERGY MARKET DEVELOPMENTS: COAL AND NATURAL GAS PRICES REACH RECORD HIGHS - WORLD BANK
The recent surge in natural gas and coal prices has been so swift that the main benchmarks were roughly three times higher in 2022Q2 compared to a ...
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- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
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