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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, 01 March 12
INDO-INDIA, LARGE ECO SUPRA CAN FETCH CLOSE TO USD 9K DOP N.CHINA - FEARNLEYS AS
Handy
The Atlantic Handysize market did not see any signs for recovery this week. It is still a major lack of spot cargoes and an oversupply of pro ...
Wednesday, 29 February 12
69 MINERS AGREE TO RENEGOTIATE CONTRACTS - THE JAKARTA POST
The Jakarta Post, one of the leading English news papaer in Indonesia reported that, as many as 60 coal contracts-of-work (PKP2B) and nine non-coal ...
Wednesday, 29 February 12
PUTTING COAL GASIFICATION TO WORK
Clifford Reese of the SSOE Group looks at practical solutions for district energy leaders who wish to implement clean coal technology.
Coal fuels ...
Monday, 27 February 12
COAL MINING PROFITS TOO HIGH, SAYS GOVT - TEMPO INTERACTIVE
Tempo Interactive reported that, Energy and Mineral Resources Deputy Minister of Indonesia Widjajono Partowidagdo has criticized coal-mining compani ...
Monday, 27 February 12
INDONESIAN COAL EXPORTS TO CHINA DROPS 39.76 PERCENT IN JANUARY 2012
COALspot.com: Indonesia, the world largest coal exporter, shipped 28.21* mln mt of coal in January 2012, slightly lower than its December 2011 ...
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- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Australian Coal Association
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
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