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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, 04 October 12
CAPESIZE : IN SPITE OF THE HOLIDAYS IN CHINA, RATES ARE CLIMBING UP - FEARNLEYS AS
Handy
Atlantic market remains quiet due to lack of cargoes and more supply of ships. Rates from Continent to east Med were around USD 13k and Black ...
Wednesday, 03 October 12
BARCLAYS'S PRICE FORECAST FOR NEWCASTLE COAL HAS BEEN WRITTEN DOWN
“ The main story in the global coal markets has been the growth in supply, with all of the major exporters adding volumes into a market which ...
Sunday, 30 September 12
SUB-BIT INDONESIA COAL SWAPS: MIXED TREND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for November 2012 delivery lost 0.73 percent w-o-w but gained 0.41 percent d-o-d on Friday, 28 Se ...
Sunday, 30 September 12
INDONESIA HAS NO PLAN TO CAP COAL PRODUCTION
COALspot.com - “The current low coal prices were mainly due to a global oversupply condition, spurred by numerous mining exploitations in the ...
Sunday, 30 September 12
FREIGHT MARKET UNDER PRESSURE; OVERALL SENTIMENTS ARE STILL BEARISH
COALspot.com - The freight market seemed to have lost steam and all indices were down except for cape index.
The BDI was slightly down by 6 point ...
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- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
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