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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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- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Economic Council, Georgia
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- The University of Queensland
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- MS Steel International - UAE
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
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