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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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Tuesday, 07 August 12
2ND ANNUAL FLOATING TERMINALS
Press Release - After a ground breaking and successful launch in 2011, the 2nd Annual Floating Terminals conferenceis back to address innovation, co ...
Tuesday, 07 August 12
KRISHNAPATNAM PORT HAS DISCHARGED 122,247 MTS OF COAL IN JUST 24 HRS
COALspot.com - Keeping with the tradition of the new records that are set at the Olympic Games 2012, Krishnapatnam Port has also achieved in setting ...
Tuesday, 07 August 12
THE JAKARTA POST EDITORIAL: REVISITING THE MINING LAW
The Jakarta post, one of the leading English news paper in Indonesia writes in its editorial today, what the domestic and foreign investors had drea ...
Tuesday, 07 August 12
BARAMULTI SET TO LIST ON BOURSE IN Q4 - JP
The Jakarta Post reported that, coal miner PT Baramulti Sukses Sarana is preparing to make its shares available to the public in the fourth quarter ...
Tuesday, 07 August 12
REALM RESOURCES COMPLETES STUDY ON ITS KATINGAN RIA COAL PROJECT
COALspot.com - Realm Resources Ltd. has announced that it has completed the Project Study for the Katingan Ria Project in Central Kalimantan, Indone ...
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- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
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