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Friday, 04 May 12
DEMOLITION KEY FOR DRY BULK MARKET RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The overflow of newbuilding vessels which “spilled over” into 2012 from 2011 brought the dry bulk market to a near collapse level at the early stages of this year. Stunned, shipowners were helplessly watching as freight rates tumbled over and over again until the bottom of the market was finally reached in late February. It had taken the market back to levels even worse than those of the later part of 2008, when the world’s trade was in effect stopped, as a result of the global financial crisis, which had as a result the halting of issuing of letters of credit from banks, a necessary document for the movement of cargoes.
In its latest analysis, Intermodal discusses the issue of demolition activity and whether it could act as a “catalyst” to help the dry bulk market recover. According to Intermodal’s Panos Makrinos, “from the second half of 2008, there has been a significant plunge of freight rates which for some market segments has persisted until today. “All parties involved in the shipping industry continually voice that in order to deal with the severe oversupply problem and improve freight rates once more is to limit new building orders scrap older tonnage. For the later solution this would mean that all the early/mid 80’s vessels would head to scrapyards even if they are in excellent condition and well maintained with trading certificates for several more years. The question that arises here is whether this common thinking is indeed correct and able itself to recover the current uncertain market” wondered Makrinos.
He continued by mentioning that “starting from the current levels of demolition, we see that demo price levels are dropping incrementally week by week and the main reason for this fall has mainly been the weak demand of steel which will probably continue to suffer as Europe slides back into recession. This week, Bangladesh was the leader of all demo players around the world as most of the deals which reported for demo went to Bangladeshi scrap buyers at very impressive numbers in comparison with the price levels offered by all other demo markets. In terms of scrap prices, the most recent considerable deal that has been achieved in the dry segment was the Ukrainian built OKEAN type ‘’GOOD UNION’’ with lightship 13.630tns which fetched an unbelievable price at region USD 493 per ton.
On the other hand, the remaining demo buyers have appeared for one more week to have had a very conservative appetite, with their poor performance caused by the fact that they were not in a position to submit offers at attractive price levels. Moreover, it is said that there was a large number of renegotiations that have taken place recently. For the time being, all the cash buyers are becoming a little skeptical and deciding to focus on the tonnage they have already bought and sell off existing units before proceeding with new acquisitions.
Demo prices overall remained at similar price levels as they were in the last week, with wet tonnages to be around USD 425-490 per lightweight and dry units remaining to about USD 410-470 per lightship” he said.
He concluded his report by mentioning that “throughout 2011, we had continuously repeated that despite the very high activity reported in the demolition market during that year, oversupply still remained a serious headache for all ship owners creating uncertainty for the near term prospects of the shipping industry. In addition, the first four months of this year we noticed a large number of vessels being beached, however, freight rates are still remaining at low levels and nothing remarkable has changed. This result points to the fact that scrapping of vessels alone is not enough to provide a balance in the charter market. We will also need to see cancelations of N/B orders increase within the coming months, as well as a more moderate newbuilding ordering strategy by shipowners”.
Meanwhile, “in the The Indian market lost further support this week as offered prices dropped due to the decreased demand noted. Bangladeshi breakers still hold the lead in prices offered, while it seems as though Pakistan was able to cover the gap caused by the softening Indian market. With demand now remaining fairly soft, while the supply of candidates continues to put considerable downward pressure on the market, we could start to see prices decrease further over the coming weeks. This has not ben the case for the Turkish market were we have seen a sudden rapid increase in price levels, likely supported by the firm demand for scrap steel. Prices overall remained stable, with wet tonnages noting levels of around 425-490$/ldt and dry units holding at about 410-470$/ldt” said Intermodal.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 06 November 12
NOVEMBER 2012 HBA $35.21 LOWER THAN A YEAR AGO
COALspot.com - The Indonesian government’s declared coal reference price for November’ 12 has lost US$ 4.60 per MT M-o-M.
...
Sunday, 04 November 12
SUB-BIT INDONESIA COAL SWAPS FOR DECEMBER' 12 DELIVERY FALLS TO $ 59.78
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for December 2012 delivery fell -1.02 percent on WoW but gained 0.08 percent on D-D on Friday, 2 ...
Saturday, 03 November 12
THE SUPRAMAX FREIGHT EXPECTED TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - This week the market remained soft with all the sectors soft.
The BDI and was down by 6 pct closing at 986 points. The cape index ...
Saturday, 03 November 12
DEMOLITION IS THE KEY FOR DRY BULK SHIPPING'S RECOVERY SAYS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With the number of new building deliveries so far in 2012 already having surpassed the total of 2011, it's more than clear that the dry bulk sector ...
Thursday, 01 November 12
INDONESIA HAS REVISED DOWN ITS 2012 DOMESTIC MARKET OBLIGATION REQUIREMENT FOR COAL
COALspot.com - Minister of Energy and Mineral Resources of Indonesia has revised down its 2012 domestic market obligation requirement due to lower d ...
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- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- The University of Queensland
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- White Energy Company Limited
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
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