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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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Wednesday, 10 October 12
TAPPING OPPORTUNITIES WITHIN GLOBAL ECONOMIC PERSPECTIVE
Press Release: Mining sector will continue to play a significant role in supporting industrial and economic development in Indonesia which is curren ...
Tuesday, 09 October 12
REALM RESOURCES RECOMMENCES DRILLING AT KATINGAN RIA COAL PROJECT
COALspot.com : Realm Resources Ltd. (ASX) has announced that it has commenced work on the phase three technical programme at its Katingan Project in ...
Sunday, 07 October 12
INDONESIAN GOVERNMENT DECLARED HBA FELL AGAIN IN OCTOBER
COALspot.com - The Indonesian government’s declared coal reference price has lost US$ 0.17 per MT M-M.
The monthly coal referen ...
Saturday, 06 October 12
CFR SOUTH CHINA COAL SWAPS FOR DECEMBER'13 DELIVERY GAINED 1.3 PERCENT W-W
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for December 2012 delivery gained 0.098 percent and 0.164 percent W-W and D-D respectively o ...
Saturday, 06 October 12
FREIGHT MARKET IS LIKELY TO PICK AFTER THE HOLIDAYS IN CHINA - VISTAAR
COALspot.com - The freight market appeared to be seeing some increase BDI up by 14.23 pct closing at 875 points. The Cape and Panamax index also saw ...
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- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
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