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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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Wednesday, 29 August 12
COLOMBIA'S MINING BOOM: PART ONE - JOSEPH KIRSCHKE
COALspot.com - Colombia stands before one of the potentially largest, most diversified mining booms in the world. Untold reserves of gold, coal, cop ...
Wednesday, 29 August 12
SECOND HAND VESSELS IN HIGH DEMAND DESPITE SUMMER SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the slow summer season, ship owners appear to be rather keen in acquiring some modern second hand tonnage at "knock-down" prices. ...
Monday, 27 August 12
BUMI BOOKS $322.1 MILLION NET LOSS IN 1H 2012 IN SPITE OF 8.6 PERCENT INCREASE IN SALES REVENUE
PT Bumi Resources Tbk, the single largest coal producer and exporter in Indonesia announces its first half financial report for the ...
Monday, 27 August 12
OVER 200 FOREIGN COMPANIES AND ENERGY MAJORS EXPECTED AT 2ND MOGP SUMMIT IN YANGON
Singapore based CMT and Machinery & Solutions Co. Ltd (M&S) announce that the 2nd MOGP Summit will be held on 3-6 September at the Sedona ho ...
Sunday, 26 August 12
SOUTH AFRICAN COAL OVERVIEW
South Africa's indigenous energy resource base is dominated by coal.
Internationally, coal is the most widely used primary fuel, accounting for ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- The University of Queensland
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Xindia Steels Limited - India
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