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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, 05 July 12
BUMI ACHIEVES HIGHER SELLING PRICE IN FIRST QUARTER
COALspot.com - PT Bumi Resources Tbk (BUMI), Indonesia's largest coal producer and exporter, has successfully maintained a higher sales margin, des ...
Tuesday, 03 July 12
DRY BULK MARKET INCHED FORWARD AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched forward at the beginning of the new week, prior to the US holidays regarding the celebration of the 4th of July, which is ...
Monday, 02 July 12
ORPHEUS STRENGTHENS REVENUE STREAM WITH NEW ROYALTY AGREEMENT AT THE B2 COAL PROJECT
Orpheus Energy (ASX:OEG) is pleased to advise that it has executed a life of mine Royalty Agreement with Indonesian mining contractor PT Debbia Mini ...
Monday, 02 July 12
DRY BULK DEMAND TO RISE TO 3.6 BILLION TONNES IN 2012, BUT NEW BUILDING DELIVERIES ARE
In its latest analysis on the dry bulk market fundamentals, DVB Bank said that dry bulk cargo demand is forecast to rise to approximately 3.6 billio ...
Sunday, 01 July 12
AUSTRALIAS CARBON TAX - SUNIL K KUMBHAT
COALspot.com - Climate Change
Climate change and global warming have now become buzzwords the world over. The disastrous consequences for global ...
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- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- The University of Queensland
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Australian Coal Association
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
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