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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, 07 July 12
EXCESS SUPPLY & WEAK DEMAND KEEP COAL PRICES LOW
COALspot.com - SGX AsiaClear OTC Coal Swaps for August and Q4 deliveries slipped slightly this week. SGX’s Indonesian sub-bituminous coal swap ...
Saturday, 07 July 12
BALTIC INDEX UP ON STRONG CAPE, PANAMAX RATES - VISTAAR
COALspot.com - This week all the segments were firmed up with BDI up by 15.23 pct (up by 153 points) closing at 1,157 points.
The cape index also ...
Saturday, 07 July 12
DRY BULK MARKET NOT ABLE TO FIND SOLID GROUND SAY EXPERTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the second half of each, traditionally looking the most active one, especially in terms of newbuildings being delivered, it's highly unlikely ...
Thursday, 05 July 12
GOVT GETS READY FOR $1.8B SUIT - THE JAKARTA POST
The Jakarta Post, one of the leading Indonesian English new papers reported that, several ministries and the Attorney General’s Office held a ...
Thursday, 05 July 12
DRY BULK MARKET MOVES FURTHER UP THE HILL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its growth momentum by the middle of the week, as the BDI (Baltic Dry Index) rose by an additional 40 points to 1,103 p ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Planning Commission, India
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
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