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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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Wednesday, 18 April 12
INDONESIA TO INTRODUCE EXPORT DUTY ON MINERAL ORES BY 6 MAY 2012
The Indonesian government is scheduled to issue regulation on export duty for minerals before May 6, 2012.
According to Bisnis Indonesia, as quot ...
Sunday, 15 April 12
THE SPOT FIXTURE RATES FOR SUPRAMAX IN SE ASIA SAW SOME SOFTENING OF CHARTER RATES - VISTAAR
COALspot.com - The market seem to be holding and except for Supramax and handy size index all other index was up with BDI up by 4.74 pct closing at ...
Friday, 13 April 12
MINERS OPPOSE GOVTS EXPORT TAX PLAN - THE JAKARTA POST
The Jakarta Post reported that, Indonesian mining companies have strongly protested the government’s plan to impose a 25 percent export tax on ...
Friday, 13 April 12
S&P CAUTIONS AGAINST NEW INDONESIAN MINING REGULATIONS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Investors may have expressed concerns about looming new mining regulations, but ratings agency Standard & Poor& ...
Thursday, 12 April 12
FIRST QUARTER OF 2012 SAW AN ADDITIONAL 24.2 MILLION DWT OF DRY BULK CARRIERS ENTERING THE FLEET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The inflow of newbuilt dry bulk vessels was larger than expected in the first quarter of 2012. As much as 24.2 million DWT were added to the fleet. ...
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Showing 4766 to 4770 news of total 6871 |
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- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- The University of Queensland
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
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