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Friday, 09 March 12
SHIP OWNERS LOOKING TO CHINA FOR REVIVAL, WHILE THEY KEEP SELLING OLD SHIPS FOR SCRAP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 With China’s economic policy plan for the future on every ship owner’s mind, at least those involved in the dry bulk industry, the latest news that China’s Premier, Wen Jiabao announced that the 2012 China target of growth will be 7.5% certainly didn’t cause for any celebration. Instead, as Intermodal’s George Bassakos points out, “it is an evident move to further control China's furious economic growth, support consumption and protect the country from the effects of the financial debt crisis hurting the West. But what are the implications of this decision on Shipping? Definitely not good news” he said.
According to Bassakos, “China’s mining trade association expects imports of iron ore, could drop by as much as 14 per cent for 2012, as the country ramps up domestic production, a move which will not come as good news for capesize bulkers, witnessing record fleet growth.
Chinese steel production at 52.1mt in January 2012 (down 13.0 per cent year-on-year), is nothing more than another proof of domestic falling demand. Chinese steel production is a key driver as it accounts for 46% of global steel production, while iron ore and coking coal account for 29% and 6% of transported cargoes. Furthermore, Chinese iron ore and steel stockpiles remain at historically high levels - a real concern for dry bulk shipping.
Dry bulk shipping still suffers from supply issues with 2012 being the 3rd year in a row, with double-digit supply growth and such news coming from China, will put further pressure on rates. Some improvements are expected (and needed) but definitely the glory days of the past seem to have elapsed” concluded Intermodal’s Bassakos in his analysis.
Meanwhile, in the demolition market there remains plenty of activity in the market place and price levels have stabilized or in some cases and surprisingly, improved slightly.
According to the latest weekly report of Clarkson Hellas “India, the bedrock of the industry for many months now, continue to be the major players. Some 52 vessels had arrived to the anchorage for resale into Alang in February, however many we understand, remain unsold to the breakers or are suffering attempted renegotiations. These problems are now rarely highlighted in the market unlike previous years, which really is a credit to the cash intermediaries who really have brought some exemplary work ethics into the business over recent years, particularly when they are placing deposits into Owners accounts and have the added pressure of some unethical efforts imposed on them by the breakers.
Despite a settled local currency and stable domestic steel market in India, no reasonable price increases are evident due to the large supply of tonnage to the area and some are pleasantly surprised that we have not seen any negative correction in rates. However, the next couple of weeks may see inquiry and activity from India wane whilst the date for the budget draws closer (16th March) as buyers may prefer to hold back from risking numbers pre-budget for later deliveries.
Bangladesh still remains cautious as whilst vessels are being beached, it is reported that there remains lengthy delays completing inward custom formalities and breakers continue to face difficulties opening Letters of Credit. It is hoped that in the future, everything could return to how they used to be, free of any delays or financial issues, to ease the pressure on their counterparts in India” concluded Clarkson Hellas.
In a separate report, shipbroker Golden Destiny stated that “scrap prices are still soft with vessels being on stream of disposal and India leading the game as Bangladesh still tries to find its strength. The Central Bank of Bangladesh has increased lending rates as the depreciation of its currency against the dollar has resulted in lower dollar reserves. The monetary tightening has made it more difficult for scrap yards to obtain letters of credit; putting pressure on Bangladesh’s scrapping business. Scrap levels for dry units are floating at levels $460-$470/ldt and for wet units near to $500/ldt with China offering below $450/ldt.
The week ended with 21 vessels reported to have been headed to the scrap yards of total deadweight 1,281,029 tons. In terms of the reported number of transactions, the demolition activity has been marked with a 91% week-on-week increase, whereas there has seen a 92.35% increase regarding the total deadweight sent for scrap. In terms of demolition levels, the highest scrap rate has been achieved this week in the tanker segment by Pakistan for a VLCC unit of 269,065 dwt with 34,294 ldt built 1992 at $502/ldt. Bulk carriers have grasped the lion share of this week’s total demotion activity, 38%, with India winning 52.38% and China 24% of the activity.
At a similar week in 2011, demolition activity was down by 36% from the current levels, in terms of the reported number of transactions, 15 vessels had been reported for scrap of total deadweight 597,238 tons with bulk carriers grasping 33% and liners 40% of the total number of vessels sent for disposal. India and Pakistan had been offering $455-$465/ldt for dry and $485-$495/ldt for wet cargo, while Bangladesh market had been inactive from the demolition scene” concluded Golden Destiny in its report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 18 May 12
EXPORT TAX WILL ERODE PROFITS, INDONESIAN COAL EXEC COMPLAINS - THE JAKARTA GLOBE
The Jakarta Globe reported that, A 20 percent export duty the government has imposed on 14 mineral ore products will not only take a toll on mining ...
Friday, 18 May 12
KOREA EAST WEST POWER LOOKING FOR TOTAL 2.6 MILLION TONS OF 4600 NAR COAL AT FIXED PRICE FOR 5 YEARS
COALspot.com - Korea East West Power Co., Ltd is inviting bids to supply of 520,000 Metric Tons (per annum) of minimum 4,600 kcal/kg coal of N ...
Friday, 18 May 12
NICKEL ORE CARGOES ARE NOT SEEN IN MARKET ANYMORE DUE TO ON-GOING INDONESIAN BAN - FEARNLEYS AS
Handy
The market remained variable.
Fronthaul voyages both from Baltic and Black Sea paid over USD 18k/day. From USG to Cont tonnage would get ...
Thursday, 17 May 12
COAL MINERS OPPOSE EXPORT TAX, SUGGEST OUTPUT QUOTA - THE JAKARTA POST
The Jakarta Post reported that, coal miners have suggested that the government apply a production quota instead of implementing an export tax in ord ...
Thursday, 17 May 12
DRY BULK MARKET STILL LOOKING FOR NEW DIRECTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept on moving sideways during this week, with the mixed performance across all segments. Yesterday, the industry’s be ...
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- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- GMR Energy Limited - India
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
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