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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, 20 September 12
DRY BULK INCHES FORWARD AFTER WEEKS OF BELOW PAR PERFORMANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has started to revive from its ashed, as the past couple of days, traders have reported an increased activity from China, result ...
Wednesday, 19 September 12
CHURCHILL STRENGTHENS LITIGATION TEAM WITH APPOINTMENT OF NICHOLAS SMITH AS MANAGING DIRECTOR
COALspot.com - Churchill Mining PLC (AIM: CHL) has announced that, Mr Nicholas Smith has joined the board of the Company and has been appointed as t ...
Wednesday, 19 September 12
DRY BULK TERMINALS SINGAPORE
Press Release - Dry bulk terminals are used all around the world to handle large quantities of bulk materials, like minerals, grains, etc. In today& ...
Tuesday, 18 September 12
JORC CODE REVISION - EXPOSURE DRAFT RELEASED FOR COMMENT
COALspot.com - The Australasian Joint Ore Reserves Committee (JORC) has today released for public comment the exposure draft of the JORC Code (2012) ...
Monday, 17 September 12
YEAR TO DATE, BUMA PRODUCED 231.1 MILLION BCM OF OVERBURDEN
COALspot.com - PT. Delta Dunia Makmur Tbk has removed 31.5 million bcm (+6.0 percent YoY) overburden in August 2012 totaled 31.5 million bcm ( ...
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- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- The University of Queensland
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
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