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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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Tuesday, 12 June 12
ITACHA RESOURCES BUYS SARANA MARINE - INSIDER STORIES
Insider Stories reported that, coal mining company PT Itacha Resources, a joint venture between Anthoni Salim and Glenn Yusuf, announced that Itacha ...
Monday, 11 June 12
BAHANA FORECASTS THE COAL PRICES WILL FALL FURTHER
COALspot.com - Growing US coal supplies + low shipping costs = Asia as target.
According to Irwan Budiarto analyst at Bahana Securities, US ...
Monday, 11 June 12
ASIAN COAL TRADING COMMUNITY EMBRACES API 5 AND API 8
Press Release - The Asian coal trading community is embracing the API 5 and API 8 indexes for its swap contracts.
The API 5 index represents 5,50 ...
Sunday, 10 June 12
FREIGHT MARKET EXPECTED TO REMAIN WEAK FOR NEXT FEW WEEKS - VISTAAR
COALspot.com - The BDI continued to fall this week and down by 2.99 pct closing at 877 points.
The Cape index also was down by 5.78 pct closing a ...
Friday, 08 June 12
ESSAR ENERGY RECEIVES FINAL APPROVAL FOR INDONESIAN COAL BLOCK
COALspot.com - Essar Energy plc, the India-focused integrated energy company, today announced that it has received final ‘Pinjam Pakai’ ...
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- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Australian Coal Association
- ICICI Bank Limited - India
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Minerals Council of Australia
- PTC India Limited - India
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- MS Steel International - UAE
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
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