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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, 12 October 12
INVESTMENT OPPORTUNITIES OCCUR IN THE SECOND HAND VESSEL MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although 2012 has by now evolved into one of the most challenging years for global shipping industry, ship owners are scouting the second hand ship ...
Thursday, 11 October 12
SINGAPORE BASED COAL SOURCE AND SHIPPING BAGS 300K MT IMPORTED COAL SUPPLY CONTRACT FROM TNPL
COALspot.com - India-based paper manufacturer Tamil Nadu Newsprint and Papers Limited has awarded a tender for 300,000 mt of imported steam co ...
Thursday, 11 October 12
PANAMAX : SINCE LAST WEEK RATES HAS FIRMED FOR ALL TRADES - FEARNLEYS AS
Handy
The Atlantic market remains quiet due to lack of cargoes and more supply of ships. Rates from Continent to East Med were around USD 14k and B ...
Thursday, 11 October 12
DRY BULK MARKET STEADY AFTER CHINESE HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market hasn't yet staged a solid rebound after last week's holidays in China, as many would have expected. Indeed, many analysts were ...
Wednesday, 10 October 12
NEW BUILDING MARKET ON A QUIET WEEK, DUE TO ASIAN HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The newbuilding ordering activity has been more than quite during the course of the past week, as a result of holidays in both Korea and China. Acco ...
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- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- The University of Queensland
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Mercator Lines Limited - India
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
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