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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, 23 July 12
NTPC INVITES BIDS FOR 2.6 MILLION TONS OF LOW MOISTURE IMPORTED COAL
COALspot.com - India’s largest electricity generator, NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government ...
Sunday, 22 July 12
NEW CHAIRMAN FOR AUSTRALIAN COAL ASSOCIATION
The Australian Coal Association (ACA) announced that Mr Ross Willims has been appointed as its new independent Chairman effective November 5 2012. M ...
Sunday, 22 July 12
CENTRAL KALIMANTAN COAL RAILWAY NETWORK WILL BE BUILT BY 2015 - THE BORNEO POST
The borneo post reported that, a declaration to build a coal railway network is signed today (12/07/2012) in front of the Indonesian Vice President ...
Sunday, 22 July 12
COAL PRICES IN MIXED TRENDS; STOCKS REMAIN HIGH AT BOTH ENDS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery fell 0.99 percent on last Friday closing (d-o-d) and 1.19 percent com ...
Sunday, 22 July 12
TATA POWER SIGNS A LONG TERM COAL SUPPLY AGREEMENT WITH PT ANTANG GUNUNG MERATUS, INDONESIA
COALspot.com - Tata Power, India’s largest integrated power utility, last Friday announced that it has signed a long term coal suppl ...
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- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- White Energy Company Limited
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
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