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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, 06 April 12
DRY BULK MARKET SWIFT TO HALT FALL ON RENEWED DEMAND FOR CAPESIZES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk managed to put a stop to the recent falls, which came as a result of a lacklustre demand for smaller vessel sizes. Although this trend ...
Thursday, 05 April 12
COAL EXPORT TAX: MATTER OF CONCERN FOR INDIA - SUNIL K KUMBHAT
COALspot.com - Since the issuance of Indonesian Mining law in 2009, miners have increased their activities in exploring , ex ...
Thursday, 05 April 12
AKR COAL FIRST EXPORT SHIPMENT OF COAL SEABORNE
PT Anugrah Karya Raya (AKR Coal) subsidiary of PT AKR Corporindo Tbk., Indonesia’s leading integrated supply chain solutions provider and larg ...
Thursday, 05 April 12
DRY BULK MARKET STALLS AS TREND IS REVERSED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has halted its month-long rally, with the BDI (Baltic Dry Index) retreating yesterday for a second consecutive session. Industry ...
Wednesday, 04 April 12
OIL MAY JUMP TO $150PB IF IRAN ATTACKED: EXPERT - KUNA / HELLENIC SHIPPING
Prices of oil will not drop below level of $100 per barrel and may jump to $150 pb in the coming two months, according to the prominent Kuwaiti expe ...
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- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Economic Council, Georgia
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- PTC India Limited - India
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
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