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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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Sunday, 01 July 12
DSP OF SGX ASIACLEAR OTC COAL SWAP'S THIS WEEKS MOVEMENTS SLIGHTLY POSITIVE
COALspot.com - SGX AsiaClear OTC Coal Swaps have recovered slightly this week and Q4 deliveries are also showing positive direction.
SGX’s ...
Saturday, 30 June 12
THE FREIGHT RATES ARE EXPECTED TO BE STEADY TO FIRM NEXT WEEK - VISTAAR SINGAPORE
COALspot.com – The BDI was up by 2.66 pct (up by 26 points) closing at 1,004 points crossing the 1000 point barrier this week.
The c ...
Friday, 29 June 12
INDONESIAN PRODUCERS ARE PLANNING TO CUT PRODUCTION IF COAL PRICES FALL FURTHER
COALspot.com: Indonesia, the world largest multi grade coal exporter, shipped 31.54* million tons of coal in May 2012, compared to 31.86* mill ...
Friday, 29 June 12
DRY BULK SHIP OWNERS DOING THEIR MATHS BEFORE PLACING NEWBUILDING ORDERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With oversupply having plagued the dry bulk shipping fleet since the end of 2011, it’s become ever so evident that placing a newbuilding order ...
Thursday, 28 June 12
DRY BULK MARKET HIGHER ON CAPESIZE OPTIMISM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched a bit higher yesterday, as the BDI (Baltic Dry Index) ended up by 0.71% to 988 points. Most ship types were up, with the ...
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- Economic Council, Georgia
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Planning Commission, India
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- The University of Queensland
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
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