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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, 08 March 12
INDONESIA'S COAL SECTOR CAN BENEFIT FROM CLEARER REGULATIONS - FITCH RATINGS
Fitch Ratings says Indonesia's coal mining sector should continue to see strong growth prospects but can benefit from clearer and more predictable ...
Thursday, 08 March 12
DRY BULK MARKET ON THE RISE; CHINAS COAL IMPORTS COULD INCREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on rising back to healthier levels yesterday, with the BDI (Baltic Dry Index) the industry’s benchmark, marking its 8 ...
Wednesday, 07 March 12
INDONESIA COAL BENCHMARK PRICE GAINS FOR SECOND MONTH
COALspot.com - Indonesia raised the monthly coal reference price for sales in March by 1.15 percent, the second increase since February.
The Mini ...
Wednesday, 07 March 12
INDONESIA TO LIMIT FOREIGN OWNERSHIP IN MINES TO 49 PERCENT WITHIN 10 YEARS OF PRODUCTION
COALspot.com - Foreign holders of mining licenses in Indonesia have to divert 51% of their stakes to Indonesian government or domestic entitie ...
Wednesday, 07 March 12
ASSESS ASIAS POTENTIAL, DEVELOPMENTS AND APPETITE FOR SHALE AT SHALE GAS SUMMIT
Press Release - Assess Asia’s Potential, Developments and Appetite for Shale at Shale Gas Summit on 23-24 Apr, 2012 in Beijing
China is rep ...
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- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- The University of Queensland
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- White Energy Company Limited
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Planning Commission, India
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
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