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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, 27 June 12
DIRECTORATE GENERAL OF MINERAL AND COAL OF INDONESIA INTRODUCES ON-LINE SYSTEM FOR MINING PRODUCTS EXPORT APPROVAL
COALspot.com - Directorate General of Mineral and Coal of Indonesia has released "Clear and Clean" certificate for another 33 coal miners ...
Monday, 25 June 12
RIO TINTO MAKES FIRST COAL SHIPMENT FROM MOZAMBIQUE
Rio Tinto has started exporting premium hard coking coal from its Benga Mine in the Moatize Basin in Mozambique. The first shipment of 34,000 tonnes ...
Sunday, 24 June 12
SUPRAMAX FREIGHT MARKET FIRMED UP FROM INDONESIA TO INDIA - VISTAAR
COALspot.com - This week all the segments gained and marked was firm in the Supramax and Handy size sector, where as the Cape and Panamax inde ...
Saturday, 23 June 12
COAL PRICES APPETITE FOR ROLLER-COASTER RIDES
COALspot.com - SGX AsiaClear OTC Coal Swaps have suffered something of a roller-coaster ride in terms of prices during this week. SGX’s Indone ...
Friday, 22 June 12
PRESENT SPOT WEAKNESS IS TEMPORARY, SEASONAL AND RISE AS WINTER APPROACHES - BUMI
COALspot.com - PT Bumi Resources Tbk, the world’s one of the largest coal producer and Indonesia’s largest multi grade coal miner has no ...
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- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
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