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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, 01 September 12
PANAMAX FREIGHT RATES UNDER PRESSURE FROM LOW DEMAND - VISTAAR
COALspot.com - This week the freight market was weak with mixed results.
The BDI was down by 1.95 pct closing at 703 points, however there was so ...
Friday, 31 August 12
ADVERSE SHIPPING MARKET CONDITIONS SHORTENS LIFE SPAN OF VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The adverse conditions which have been put in place in the world's freight markets, means that ship owners are forced to scrap vessels of a much yo ...
Thursday, 30 August 12
INDO-INDIA, LARGE ECO SUPRA NOW FIXED AT USD 7K FOR DELIVERY SINGAPORE - FEARNLEYS AS
Handy
The Supra market continued its negative trend with little fresh business entering the market. Continent positions fixed around USD 4k for tri ...
Thursday, 30 August 12
DRY BULK MARKET STILL LOOKING OUT FOR BETTER DAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With things in China moving slowly this week, as a result of holidays, it’s no surprise that the latest positive trend in the dry bulk market ...
Wednesday, 29 August 12
COLOMBIA'S MINING BOOM: PART TWO - JOSEPH KIRSCHKE
One of the most prominent casualties of Canada's entry into the Colombian mining sector has been a priest named Jose Reynal-Restrepo. Last Septembe ...
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- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- ASAPP Information Group - India
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
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