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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, 11 August 12
INDONESIAN COAL REFERENCE PRICE HAS LOST 27.78 PERCENT YOY
COALspot.com - Indonesian HBA fell again in August.
The monthly coal reference price for coal sales this month fell 3.32 percent. HBA fell ...
Saturday, 11 August 12
SUB-BIT INDONESIA COAL SWAPS SEEN MOVING IN THE RIGHT DIRECTION
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 1.29 percent W-o-W on Friday (10 August 2012) closing but lost 1 ...
Friday, 10 August 12
DRY BULK MARKET DROWNING FROM TONNAGE OVERSUPPLY - HELLENIC SHIPPING
The dry bulk market has been overflowing with new building vessels, despite the fact that demand is more or less (and minus the seasonal factors) ri ...
Thursday, 09 August 12
3RD ANNUAL SHALE GAS
Press Release - With the North American shale gas boom, IBC’s 3rd Annual Shale Gas explores optimal strategies to monetize Asia’s domest ...
Wednesday, 08 August 12
EXPLOITASI AIMS TO RAISE RP 2.7T FOR ACQUISITION - THE JAKARTA POST
The Jakarta Post reported that, publicly listed coal miner PT Exploitasi Energi Indonesia (CNKO) is seeking to raise Rp 2.7 trillion (US$286.2 milli ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- The University of Queensland
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
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