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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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Friday, 03 August 12
INDIA - LIGHTS OUT! - SALVA
The Indian power sector hit global headlines this week for all the wrong reasons. Firstly, on Monday, over 350 million people lost power across nort ...
Thursday, 02 August 12
OIL & GAS COMPANIES TO MEET IN MYANMAR FOR UPDATES ON NEW ROUND OF BIDDING AND INVESTMENT POTENTIAL IN UPSTREAM OIL, GAS, AND POWER GENERATION
Press Release - 2nd MOGP Summit (Myanmar Oil, Gas & Power) will convene in Yangon from 3 – 6 September 2012, to unveil new round of biddin ...
Thursday, 02 August 12
DRY BULK MARKET RATES CONTINUE SLUMP AMID SLOWER DEMAND NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on its downward path Wednesday, as the BDI (Baltic Dry Index) kept retreating to new lows. The index was down by 2.12 perce ...
Monday, 30 July 12
DRY BULK MARKET TO REMAIN UNDER PRESSURE FOR THE REST OF 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In an interview with Hellenic Shipping News Worldwide, Mr. Yannis Pachoulis, President of the Hellenic Shipbrokers' Association, remains cautiously ...
Sunday, 29 July 12
FREIGHT MARKET MOMENTUM CONTINUES TO WEAK
COALspot.com - The freight market continued to soft this week with all the segments dropped and the BDI fell below 1,000 points and closed at 933 po ...
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- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- The University of Queensland
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
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