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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, 13 September 12
PANAMAX: THE NEGATIVE TREND, POOR SENTIMENT CONTINUES - FEARNLEYS AS
Handy
Lack of cargoes and a growing list of available ships is causing rates to slip for all Atlantic trades.
The only trade keeping somewhat s ...
Thursday, 13 September 12
FUEL EFFICIENT SHIPS MAY BE MORE EXPENSIVE, BUT THEY MAKE FINANCIAL SENSE SAYS ANALYSIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest trend in shipbuilding is the so called "Eco" ship, i.e. ships which offer much better fuel consumption and are more cost-effect ...
Wednesday, 12 September 12
INDIAS COALGATE: TIME FOR A ROOT CANAL
A recent report from India’s Comptroller and Auditor General (CAG) pertaining to the allocation of coal blocks has created a political storm i ...
Tuesday, 11 September 12
CLOUDY AND POLICY RISK INDONESIAN COAL INDUSTRY
COALspot.com - Bahana Securities in its latest coal outlook, commented on the Indonesian coal market, with economic slowdown in the four largest coa ...
Tuesday, 11 September 12
SHIP OWNERS KEEN ON SECOND HAND VESSEL PURCHASES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With most ship owners back from their summer rest, things are starting to pick up again in the second hand vessel market, with more and more deals b ...
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- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
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