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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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Tuesday, 01 May 12
VIETNAM FEARS IT MAY NOT SEEK COAL SUPPLIES - TBKTSG / VIETNAMNET BRIDGE
TBKTSG / VietNamNet Bridge reported that, with five coal-run thermopower plants under construction, PetroVietnam alone would need 18 million tons of ...
Sunday, 29 April 12
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The BDI continued to go up with the support of Panamax/Supramax and was up by 8.34 pct closing at 1,156 points.
The cape index was ...
Sunday, 29 April 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS FOR MAY 2012 DELIVERY WAS STABLE THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps for May deliveries stable this week, according to DSP of SGX AsiaClear OTC Coal Swaps. In the me ...
Friday, 27 April 12
BUKIT ASAMS NET INCOME UP 14% IN 1Q 2012 (UNAUDITED)
Press Release - PT Bukit Asam (Persero) Tbk, announced the Consolidated Financial Statements and Subsidiaries per 31 March 2012 (Unaudited).
Reve ...
Thursday, 26 April 12
AUSTRALIAS COKAL EXPANDS MET COAL POTENTIAL INTO WEST KALIMANTAN
COALspot.com - Global metallurgical coal group Cokal Limited (Cokal) (ASX:CKA) announced today it has completed the acquisition of 75.2% of PT Silan ...
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- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- White Energy Company Limited
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- PTC India Limited - India
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Planning Commission, India
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
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