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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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Monday, 16 January 12
BUMA MINED 2.7 MILLION TONS COAL LAST MONTH
COALspot.com - BUMA has mined 2.7 million tons (-14.1% YoY) coal last month and removed 25.8 million bcm (-5.6% YoY) overburden, according to compan ...
Sunday, 15 January 12
THE FREIGHT MARKET CONTINUED TO BLEED - VISTAAR
COALspot.com - "The markets continued to bleed with BDI touching almost 1000 points , almost reaching the collapse of 2008 levels," said C ...
Saturday, 14 January 12
GOLDEN MINES TO SUPPLY 4 MIO TONS - INSIDER STORIES
Insider Stories reported that, Coal miner under Sinarmas Group PT Golden Energy Mines Tbk (GEMS), a subsidiary of PT Dian Swastatika Sentosa Tbk (DS ...
Friday, 13 January 12
DIFFICULT START OF 2012 FOR DRY BULK MARKET SEEN HARD TO CHANGE IN THE COURSE OF THE YEAR, UNLESS DEMOLITION PICKS UP
The dry bulk market has been on a freefall this week after a rocky start to the new year. Yesterday, the BDI (Baltic Dry Index) the industry's benc ...
Thursday, 12 January 12
DRY BULK MARKET CRASHING AT START OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept being on freefall mode yesterday, with the industry's benchmark, the BDI (Baltic Dry Index) losing a massive 5.17% on ...
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- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
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