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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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Monday, 10 September 12
TNPL, AN INDIAN PAPER MAKER IS SEEKING FOR 300K MT OF IMPORTED NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint & Papers Ltd. , an Indian paper maker, is seeking 300,000 metric tons ± 5% (In 6 Shipments about 50,0 ...
Monday, 10 September 12
DRY BULK MARKET SLOWLY BUT SURELY REACHING CRITICAL STATUS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The radical consequences of the shifts in dry bulk demand and prices, especially for the most sought after commodity, concerning the industry, i.e. ...
Monday, 10 September 12
ORPHEUS ENERGY SECURES INDONESIAN COAL TRADING LICENSE
COALspot.com - Indonesian coal producer, Orpheus Energy (ASX:OEG) has announced today that the Indonesian Ministry of Energy and Mineral Resources h ...
Monday, 10 September 12
A SNAPSHOT ON THE ECONOMIC AND SHIPPING ENVIRONMENT - GOLDEN DESTINY / HELLENIC SHIPPING
The European Central Bank left its interest rate unchanged at 0.75% focusing on pushing down borrowing costs in troubled economies, Spain and Italy. ...
Sunday, 09 September 12
H213 SUB-BIT FOB INDONESIA COAL SWAPS ARE TRADING HIGHER
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery lost 0.14 percent W-O-W on 7 September 2012, Friday closing but gained ...
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- Deloitte Consulting - India
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Australian Coal Association
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- The University of Queensland
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
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