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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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Saturday, 08 September 12
INDO INDIA ROUTE FREIGHT FOR SUPRAMAX REMAINS STRONG - CAPT. REDDY
COALspot.com - The freight market overall remained weak and except for cape index all other sectors were down. The biggest drop was in the Panamax s ...
Saturday, 08 September 12
RIO TINTO COMPLETES ACQUISITION OF BHP BILLITON'S INTERESTS IN RICHARDS BAY MINERALS
Rio Tinto has doubled its holding in Richards Bay Minerals (RBM) following the completion of its acquisition of BHP Billiton’s entire inte ...
Friday, 07 September 12
HBA GAINS $ 1.56 PER MT IN SEPTEMBER
COALspot.com - The Indonesian government’s declared coal reference price has gained US$ 1.56 per MT M-o-M. This is the first gain ...
Thursday, 06 September 12
SOME ANCHORED PANAMAX VESSELS WAITING FOR CARGOS TO COME
Handy
According to Fearnleys weekly report, in the smaller segments Fearnleys sees little to no changes since last week. There are still entering s ...
Thursday, 06 September 12
DRY BULK CARRIERS STILL IN HIGH DEMAND AMONG SHIP OWNERS, BUT NEWBUILDING ACTIVITY SLIDES IN AUGUST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The slide of the dry bulk market this year hasn't abated ship owners' appetite for dry bulk carriers, as evidenced by the steady interest expresse ...
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- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Parliament of New Zealand
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- VISA Power Limited - India
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
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