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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, 28 July 12
CAL 2013 COAL SWAPS ARE HIGHER COMPARED TO SEPT 2012 PRICES
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 0.47 percent on Friday (27 July 2012) closing DoD but lost 0.90 ...
Friday, 27 July 12
PACIFIC MARKET REMAINED FLAT - FEARNLEYS AS
Handy
The Atlantic market continued its downward trend from last week with what appears to be a summer lull across the board. A trip from the USG t ...
Wednesday, 25 July 12
BUKIT ASAMS H1 REVENUE JUMPED BY 13 PERCENT
COALspot.com - PT Bukit Asam (Persero), Tbk., the state owned coal miner's revenue in H1 2012, has jumped 13 percent to IDR 5.79 trillion (approxim ...
Wednesday, 25 July 12
BUMI RESOURCES MINERALS SECURED PINJAM PAKAI FOR ITS ZINC AND LEAD PROJECT
COALspot.com - PT Bumi Resources Minerals Tbk. ("BRMS" or "the Company") today reported that its 80% owned subsidiary, PT Dairi ...
Tuesday, 24 July 12
SHIP OWNERS WAITING FOR SHIP PRICES TO FALL FURTHER BEFORE MOVING IN MORE AGGRESSIVELY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the summer season already well under way and many ship owners getting ready for the autumn, the sale & purchasing activity of second hand v ...
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- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Planning Commission, India
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- PTC India Limited - India
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- The University of Queensland
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
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