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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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Monday, 20 August 12
CHINESE COAL SWAPS RISE, INDONESIAN COAL CONTRACTS SOFT
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery lost -2.05 percent W-o-W on Friday (17 August 2012) closing but gained ...
Saturday, 18 August 12
BULK FREIGHT MARKETS CONTINUED THEIR DECLINE IN LINE WITH WEAK DEMAND - VISTAAR
COALspot.com - This week also the indices fell on all segments with BDI touching lowest in almost 3 years.
The BDI closed at 714 points down by 7 ...
Thursday, 16 August 12
PUBLIC PRIVATE PARTNERSHIPS CONFERENCE 2012
Press Release - Asia’s Premier Public Private Partnerships Conference 2012 will showcase commercial opportunities for investors and developers ...
Wednesday, 15 August 12
UT GENERATED RP 3.09 TRILLION NET INCOME
COALspot.com - As of June 2012 Indonesia’s heavy equipment market grew 14%, from 8,448 units to 9,618 units (based on UT’s internal mark ...
Tuesday, 14 August 12
SAKARI ENTERED INTO JV IN CAMBODIA TO EXPLORE COAL OPPORTUNITIES
COALspot.com - Sakari joints hands with The Royal Group of Companies in Cambodia to explore and develop coal opportunities throughout the country.
...
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- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- VISA Power Limited - India
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
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