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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, 16 September 12
GLOBAL LOW DEMAND ; INDONESIA COAL AND CFR SOUTH CHINA COAL SWAPS DIP
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for November 2012 delivery lost 1.345 percent W-O-W on Friday, 14 September 2012, closing but gai ...
Sunday, 16 September 12
THE FREIGHT RATES FROM INDONESIA TO INDIA EXPECTED TO BE STEADY - VISTAAR
COALspot.com - The freight market was mixed with most indices closing positive except for the Panamax index.
The main sentiment seems to be ...
Saturday, 15 September 12
FINANCE MINISTRY OPPOSES TAX INCENTIVE PLAN FOR COAL MINERS - JP
The Jakarta Post reported that, the Finance Ministry has turned down the idea of providing a fiscal incentive to the country’s coal mining ind ...
Friday, 14 September 12
DRY BULK MARKET LOOKS TOWARDS CHINA FOR SOME POSITIVE NEWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market freight rates submerged underwater for a large part of the year, dry bulk owners are looking for some positive enhancement ...
Friday, 14 September 12
GOVT OFFERS CONDITIONAL TAX HOLIDAY TO AILING COAL MINERS - JP
The Jakarta Post, one of the leading English news paper in Indonesia reported that, acknowledging difficulties encountered by coal miners due to a p ...
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- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Planning Commission, India
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- The University of Queensland
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
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