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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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Sunday, 25 December 11
THERMAL COAL PRICES GAINED UP TO 4.32 PERCENT
COALspot.com - globalCOAL index gained 4.32 percent to US$106.36 per ton in RBCT, benchmark for South Asia and West Europe markets, for the week end ...
Friday, 23 December 11
SPOT PACIFIC CAPESIZE VESSELS HAVE COMMANDED HIGH PREMIUMS - FEARNLEYS
Handy
Rates in the Atlantic kept stable from last week, with a touch of negativity closer to the end. Less spot cargoes seen, and owners are ...
Friday, 23 December 11
CONTENTIOUS ISSUES IN CONTRACT RENEGOTIATION - THE JAKARTA POST
The government has been renegotiating mining contracts, especially those 30-40 years old, with almost all mining companies, including PT Freeport In ...
Friday, 23 December 11
LANCO JOINS HANDS WITH BUKIT ASAM FOR INDONESIAN POWER PROJECT
COALspot.com - PT Tambang Batubara Bukit Asam, Indonesia's state owned coal miner and Indian based Lanco Infratech Ltd plans to build steam power p ...
Thursday, 22 December 11
RI WILL NOT PLAY CATCH-UP WITH GLOBAL COAL DEMAND - THE JAKARTA POST
The Jakarta Post reported that, the International Energy Agency (IEA) has predicted in its Coal Market Report 2011 that over the next five years, gl ...
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- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Australian Coal Association
- The University of Queensland
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Planning Commission, India
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
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