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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, 11 April 12
TWO PERCENT OF IBP CONCESSION CONTAINS 42 MMT OF COAL
COALspot.com - 42.35 million ton of coal found in just 2% of PT Insani Bara Perkasa’s total concession area of 24,477 hectare.
Accord ...
Wednesday, 11 April 12
DRY BULK MARKET STILL SUBDUED, RECOVERY NOT YET SEEN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market entered the new week after the past days of easter holidays in western countries in a subdued mood. The industry’s benchma ...
Monday, 09 April 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first week of April ended with the Baltic Dry Index falling below 950 points, before Catholic Easter, and capesizes showing a modest upturn with ...
Sunday, 08 April 12
CHARTER RATES COULD CONTINUE TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The BDI was almost at same levels closing slightly lower by 0.64 pct at 928 points.
The Cape index was up by 6.73 pct closing at ...
Friday, 06 April 12
INDONESIAN HBA FALL TO LOWEST LEVEL SINCE JANUARY 2011
COALspot.com - Indonesian HBA fall to lowest level since January 2011 this month. The monthly coal reference price for coal sales in April fal ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Planning Commission, India
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- The University of Queensland
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
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