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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-$495/ldt for wet cargo, while Bangladesh market had been inactive from the demolition scene” concluded Golden Destiny in its report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Sunday, 18 March 12
BUKIT ASAM'S NET PROFIT IN 2011 ROSE 54% TO US$ 339.56 MILLION
COALspot.com - Company revenue for the period January - December 2011 amounting to Rp 10.6 trillion (approximately US$ 1,164,835,164.84) recorded an ...
Saturday, 17 March 12
THE FREIGHT RATES FOR INDONESIA TO INDIA REMAINED FIRM - VISTAAR SINGAPORE
COALspot.com - The market continued to be firm and all segments were up except for Cape Index which was down by 2.46 pct closing at 1,466 points.
...
Saturday, 17 March 12
INDIAN GOVT FINALIZES DRAFT BILL FOR COAL REGULATOR - PTI
The coal sector would soon get a regulator as the government has finalised a draft bill for the purpose, Coal Minister Sriprakash Jaiswal said Wedne ...
Friday, 16 March 12
THE PACIFIC MARKET IS FIRMING UP - FEARNLEYS AS
Handy
A slightly positive trend was seen last week in the Atlantic. Skaw-Passero deliveries fixed around USD 3k to US Gulf, while US Gulf deliveres ...
Thursday, 15 March 12
RAINS AVERAGE SELLING PRICE OF COAL WENT UP BY 22 % IN 2011
COALspot.com - PT. Resource Alam Indonesia Tbk, an Indonesian CCoW (3rd Generation) holder reported Wednesday a 171 percent increase in net profits ...
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- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Planning Commission, India
- White Energy Company Limited
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- London Commodity Brokers - England
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- CNBM International Corporation - China
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Economic Council, Georgia
- The University of Queensland
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