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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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Thursday, 01 November 12
SOUTH KOREAN POWER UTILITY EWP TO PURCHASE 670,000 MT OF COAL FOR JAN - FEB 2013 DELIVERY
COALspot.com: Korea East-West Power Co. Ltd. on behalf of Korea South-East Power Co. Ltd., Korea Southern Power Co. Ltd., Korea Midland Power Co. Lt ...
Thursday, 01 November 12
KOMIPO LOOKING FOR 440,000 MT OF 4600 KCAL/KG NAR COAL FOR BORYEONG POWER PLANT
COALspot.com - Korea Midland Power Co. Ltd.(KOMIPO) is inviting bids from coal producers, marketing companies or traders to supply of 440,000 Metric ...
Thursday, 01 November 12
CAPESIZE RATES FALL, DRY BULK MARKET RETREATS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It was another lackluster session yesterday in the dry bulk markets, with the industry's benchmark, the BDI (Baltic Dry Index) retreating by 1.63 p ...
Thursday, 01 November 12
HANDY : WCI-CHINA RATES ARE AT AROUND USD 5,000 AND ECI-CHINA AROUND USD 4000 - FEARNLEYS AS
Handy
The Atlantic market remains quiet due to a lack of cargoes and an increased supply of ships. Rates from the Continent to east Med were around ...
Tuesday, 30 October 12
COAL PRODUCTION TO RISE BY FIVE PERCENT IN 2013 - TEMPO INTERACTIVE
TEMPO Interactive reported that, Indonesian Coal Mining Association (APBI) chairman Bob Kamandanu has estimated that Indonesian coal production will ...
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- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
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