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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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Thursday, 22 December 11
DRY BULK MARKET KEEPS LOSING TRACTION AHEAD OF HOLIDAY SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept retreating in the middle of the week, as charterers seem to be looking towards the holiday season and the start of the new ye ...
Tuesday, 20 December 11
THE COAL IMPORT INTO CHINA WAS QUIETER AS COAL STOCKS WERE AT HIGH LEVELS - BRS
The BDI ended the week at 1888 points (-1.8%), the BCI corrected to 3572 (-3.4%), the BPI was up at 1,775 (+3.6%), the BSI dropped to 1193 (-3.0%) a ...
Tuesday, 20 December 11
INDIA IMPORTS 66.41 PERCENT MORE COAL FROM INDONESIA LAST MONTH - SOURCES
COALspot.com: Indonesia, the world largest coal exporter, shipped 33.476* mln mt of coal in November, which is slightly higher than its Octobe ...
Monday, 19 December 11
KOPEX COMMITS ADDITIONAL ONE MILLION DOLLAR FOR PT TRANSCOAL MINERGY
COALspot.com - Mining contractor Kopex has agreed to extend a further US$1 million to finance the remainder of the expanded drill program at PT Tran ...
Monday, 19 December 11
PLN WILL NO LONGER BUY COAL FROM TRADERS
COALspot.com - Indonesia's state electricity company PT Perusahaan Listrik Negara will no longer allow traders to become their suppliers, said, its ...
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- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- The University of Queensland
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
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