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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, 25 August 12
FREIGHT RATES ARE EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - This week the indices showed some signs of improvement will all the segments moving up except for the handy size.
The BDI was marg ...
Saturday, 25 August 12
INDONESIAN COAL SWAP REMAINS STABLE AT LOW LEVEL
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery gain 0.804 percent W-o-W on Friday (24 August 2012) closing but lost 0. ...
Thursday, 23 August 12
INDONESIA-INDIA, LARGE ECO SUPRA FIXED AT USD 6K FOR DELIVERY SOUTH CHINA - FEARNLEYS AS
Handy
The market continued the same trend as last week, low activity and holidays in some countries.
Rate wise unchanged, with US Gulf/Continent ...
Thursday, 23 August 12
EGCO GROUP EXPANDS TOWARDS INTEGRATED ENERGY BUSINESS WITH INVESTMENT IN INDONESIAS COAL MINE
Electricity Generating Public Company Limited or EGCO Group, the Thailand’s first Independent Power Producer has continually invaded foreign m ...
Thursday, 23 August 12
EGCO GROUP ANNOUNCES 2 BILLION BAHT PROFITS IN Q2/2012
Successfully Establishes Integrated Energy Business and Strengthen Investments in ASEAN
Mr. Sahust Pratuknukul, President of Electri ...
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- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- The University of Queensland
- Economic Council, Georgia
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Trasteel International SA, Italy
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
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