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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, 06 August 12
3RD ANNUAL INDONESIA POWER
Press Release - 3rd Annual Indonesia Power is Indonesia’s premier power event, where commercial opportunities and new projects are identified. ...
Monday, 06 August 12
COAL EXPORTS COULD ADD $2B TO $6B ANNUALLY TO U.S. ECONOMY - HELLENIC SHIPPING
Business groups backing Pacific Northwest coal export proposals on Thursday lauded a new report that claims increased U.S. coal exports could bring ...
Sunday, 05 August 12
SUB-BIT INDONESIA COAL SWAPS ARE WAY UP
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 1.36 percent on Friday (3 August 2012) closing W-o-W but gained& ...
Sunday, 05 August 12
INDONESIA'S ADARO TRIMS PRODUCTION FORECAST, CITES BAD ECONOMY - THE JAKARTA GLOBE
The Jakarta globe reported that, Adaro Energy, the country’s second-largest coal producer, has cut its annual production forecast to between ...
Sunday, 05 August 12
DRY BULK FREIGHT MARKET TO STAY WEAK NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com - The freight market continued to soften further in all segments.
The BDI was down by 8.68 pct closing at 852 points. The cape index ...
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- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Planning Commission, India
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- MS Steel International - UAE
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
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