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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, 17 June 12
S7 & S8 ROUTES ARE LIKELY TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The BDI gained some increase after continues fall for several weeks.
The BDI increased by 47 points (up by 5.36 pct) closing at 92 ...
Saturday, 16 June 12
INDONESIAN SUB-BITUMINOUS COAL & CFR SOUTH CHINA COAL CONTRACT SWAPS ARE UNDER PRESSURE
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for July deliveries seems to be under pressure this week.&nbs ...
Friday, 15 June 12
CAPESIZE - THE LEVELS THAT DID FIX ARE DOWN W-O-W LEVELS - FEARNLEYS
Handy
Another slow-moving market with rates hovering at same level as last week. US Gulf positions fixed USD 25,000 for trips to Cont/Passero and S ...
Thursday, 14 June 12
SMALLER DRY BULK CARRIERS LIKELY TO FACE MORE CHALLENGES; DEMOLITION ACTIVITY SET FOR RECORD YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest update on the dry bulk markets, BIMCO said that China is partly “failing to deliver” on raw material imports that can affe ...
Wednesday, 13 June 12
LOW COAL PRICES COULD CHANGE SUPPLY SIDE DYNAMICS - FITCH RATINGS
Fitch Ratings believes that the weakness seen in thermal coal prices in recent months should reverse once demand from major importers recovers, alth ...
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- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Australian Coal Association
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
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