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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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Friday, 26 October 12
DRY BULK MARKET FALLS ON WORRIES THAT RECENT RALLY WILL BE SHORTLIVED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market retreated yesterday as a result of a plunge of the Capesize dry bulk carriers' segment, after their latest rally. As a result, ...
Tuesday, 23 October 12
INDONESIA SETS DMO FOR NEXT YEAR
COALspot.com - The Indonesian government has declared the quantity of coal to be supplied to domestic market in 2013 recently under DMO regulation. ...
Sunday, 21 October 12
BUMA HAS PRODUCED 25.0 MILLION TONS OF COAL YEAR TO DATE
COALspot.com - PT Delta Dunia Makmur Tbk., has removed 33.2 million bcm* (+5.5% YoY) of Overburden in September 2012 totaled while coal produc ...
Saturday, 20 October 12
SUPRAMAX FREIGHT EXPECTED TO BE FLAT - VISTAAR
COALspot.com - The shipping market continued to be quite active with quite lot of cargoes fixed for in the cape and panamax sector.
The BDI was ...
Thursday, 18 October 12
INDO-INDIA, LARGE ECO SUPRA FIXED AT USD 11000 - FEARNLEYS AS
Handy
Atlantic market remains quiet due to lack of cargoes and more supply of ships. Rates from Cont to East Med were around USD 14k and Black Sea ...
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- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Agrawal Coal Company - India
- Aditya Birla Group - India
- PTC India Limited - India
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- The University of Queensland
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
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