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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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Sunday, 23 September 12
AN ANOTHER UNSTABLE WEEK FOR INDONESIAN COAL SWAPS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for November 2012 delivery lost 1.10 percent and 0.916 percent WOW and DOD respectively ...
Sunday, 23 September 12
INDIA IMPORTED 11.40 PERCENT MORE INDONESIAN COAL IN AUGUST
COALspot.com: Indonesia, the world largest multi grade coal exporter, shipped 26,451,565* tons of coal in August 2012, compared to 27.88* mill ...
Saturday, 22 September 12
SOFT BUNKER PRICES KEEP INDONESIA TO INDIA FREIGHTS STABLE - VISTAAR
COALspot.com - The freight market overall remained buoyant with all indices up except for Panamax index. The main effect seems to be increased shipm ...
Friday, 21 September 12
SHIP BREAKING ACTIVITY REACHES NEW RECORDS, AS ALREADY 2012 LEVELS HAVE SURPASSED THE WHOLE OF 2011 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The vast oversupply of vessels, most notably in the dry bulk shipping sector, has forced ship owners to intensify their efforts towards recycling th ...
Thursday, 20 September 12
SUPRAMAX : INDO-INDIA ROUNDS WERE AROUND USD 12K - FEARNLEYS
Handy
Not a bad week for Supramax tonnage, if we compare Supramax developments to the bigger size tonnage. The rates have basically remained unchan ...
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- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
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