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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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Wednesday, 18 July 12
SHIP PRICES HAVE FALLEN RAPIDLY THIS YEAR, FAVORING INVESTORS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The price for a 5 year old Capesize dry bulk carrier of 172,000 dwt has fallen to about $33,4mil from $42.9 at the end of June 2011, while at end of ...
Saturday, 14 July 12
FREIGHT MARKET SEEMS TO BE QUITE VOLATILE - VISTAAR
COALspot.com - The market seems to be quite volatile with the trend changing almost every week. This week all the segments were down except for Pana ...
Friday, 13 July 12
TRANSCOAL MINERGY HAS RECEIVED PMA STATUS IN INDONESIA
COALspot.com - PT Transcoal Minergy (“TCM”) has received official foreign owned company status from the Capital Investment Coordinating ...
Thursday, 12 July 12
LACK OF CAPESIZE DEMAND DRAGS DRY BULK MARKET LOWER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A lack of demand for the larger Capesize dry bulk carriers had as a result the fall of the industry’s benchmark, the BDI (Baltic Dry Index), w ...
Thursday, 12 July 12
RIO TINTO'S SENIOR MANAGEMENT CHANGES
COALspot.com - Rio Tinto is making changes to its senior management team as chief financial officer (CFO) Guy Elliott has decided to retire at the e ...
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- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- The University of Queensland
- The Treasury - Australian Government
- Minerals Council of Australia
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
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