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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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Monday, 05 March 12
SOME RESOURCE TITANS NOT THRILLED WITH INDONESIAN EXPORT BAN - THE JAKARTA GLOBE
The Jakarta Globe reported that, local representatives of major business associations in East Kalimantan have protested a government regulation that ...
Monday, 05 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
An air of optimism poured in the market this week for dry bulk shippers with the Baltic Dry Index recording daily gains during the end of February b ...
Sunday, 04 March 12
SE ASIA WAS FIRM FOR TRIPS TO INDIA AND CHINA - VISTAAR
COALspot.com - This week saw another upward trend with all indices up and generally market was firm.
The BDI was up by 7.38 pct closing at 771 po ...
Friday, 02 March 12
DJMBP HAS ANNOUNCED SECOND BATCH OF CLEAR N CLEAN CERTIFIED MINERS
COALspot.com - The Directorate general of mineral & coal of Indonesia has announced second batch of companies who have passed IUP Clear and Clea ...
Thursday, 01 March 12
BUKIT ASAM TARGETS EUROPEAN INVESTORS
COALspot.com - PT. Bukit Asam (persero) Tbk, Indonesian state owned coal miner is planning to conduct road show in Europe next week to target at Eur ...
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Showing 4826 to 4830 news of total 6871 |
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- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Bangladesh Power Developement Board
- Planning Commission, India
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
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