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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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Tuesday, 04 September 12
SHIP OWNERS' COMPETITION LEADS TO TANKER FIXTURES BELOW OPERATING COSTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners operating in the VLCC tanker markets are increasingly finding it difficult to obtain even breakeven rates for their vessels, as competit ...
Tuesday, 04 September 12
ORPHEUS SECURES ADDITIONAL SIGNIFICANT KINTAP COAL PROJECT IN SOUTH KALIMANTAN
COALspot.com - Indonesian coal producer, Orpheus Energy (ASX:OEG) has announced that it has secured a 50% equity ownership in an additional tenement ...
Monday, 03 September 12
SHIPOWNERS TO WAIT FOR FURTHER PRICE REDUCTIONS IN THE SECOND HAND VESSEL MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With September now upon us, shipbrokers are looking towards an interesting winter season, as ship owners are looking to capitalize on more second ha ...
Sunday, 02 September 12
ADAROS COAL ROYALTIES TO THE GOVERNMENT INCREASED BY 10.5 PERCENT Y-O-Y TO US$196.8 MILLION
COALspot.com - PT Adaro Energy Tbk (IDX: ADRO), the second largest power plant coal producer in Indonesia, announced its consolidated auditor-review ...
Saturday, 01 September 12
FALLING PRICES; BLEEDING MINERS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery lost 4.070 percent and 0.422 percent respectively on W-o-W and D- ...
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- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- MS Steel International - UAE
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Aditya Birla Group - India
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- PTC India Limited - India
- Planning Commission, India
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
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