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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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Thursday, 12 July 12
SOUTHGOBI RESOURCES ANNOUNCES NOTICE OF INVESTMENT DISPUTE FILED AGAINST MONGOLIAN GOVERNMENT
Press Release - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) (“SouthGobi”) announced today that SGQ Coal Investment Pte. Ltd., a wholly ...
Wednesday, 11 July 12
HBA DROPPED SHARPLY IN JULY
COALspot.com - Indonesian HBA fell to lowest level since September 2010 in July 2012. The monthly coal reference price for coal sales this mon ...
Wednesday, 11 July 12
SUB-BIT FOB INDONESIA COAL SWAP LOST $ 1.26 PER TON
COALspot.com - Sub-Bit FOB Indonesia Coal decline for a second day yesterday, according to SGX AsiaClear OTC Coal Swaps. The prices for shipments to ...
Tuesday, 10 July 12
DRY BULK MARKET RECORDS MODEST GAINS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched a bit higher on Monday, with the Baltic Dry Index (BDI) ending the session up by 5 points to 1,162. Most markets were hig ...
Saturday, 07 July 12
INDONESIA-JAPAN RELATIONS TURN SOUR - THE JAKARTA POST
The Jakarta Post, the one of the leading Indonesian English new papers reported that, Bilateral relations between Indonesia and Japan have recently ...
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- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Planning Commission, India
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
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