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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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Thursday, 26 April 12
PANAMAXES AGAIN EARN MORE THAN CAPESIZES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest surge of demand for Panamaxes has led the dry bulk market to new higher ground on Monday, with the Baltic Dry Index (BDI) reaching 1,090 ...
Wednesday, 25 April 12
CHINA IMPORTS 9.76 MMT AND INDIA IMPORTS 7.03 MMT OF INDONESIAN COAL LAST MONTH
COALspot.com: Indonesia, the world largest coal exporter, shipped 30.64* million tons of coal in March 2012, compared to 27.12* million tons i ...
Monday, 23 April 12
ALTURA ENTERS INTO AGREEMENT TO ACQUIRE 2 COAL PROJECTS IN SOUTH KALIMANTAN
COALspot.com - Altura Mining Limited (ASX: AJM) has announced that it has entered into an agreement to acquire a further two (2) Mining Permits (IUP ...
Sunday, 22 April 12
THE FREIGHT MARKET EXPECTED TO REMAIN FIRM NEXT WEEK - VISTAAR
COALspot.com - The BDI has broken the psychological barrier of 1000 points and closed at 1067 points.
The cape index was slightly down by 2.48 pc ...
Saturday, 21 April 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS DROP 2.61 PERCENT THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps fell for a fifth day, according to DSP of SGX AsiaClear OTC Coal Swaps.
CFR South China Coal ...
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- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- The University of Queensland
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
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