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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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Friday, 08 June 12
MINISTER DENIES COAL EXPORT TAX PLAN, ENDORSES RESTRICTIONS - THE JAKARTA POST
The Jakarta post, one of the leading english news paper in Indonesia reported that, Energy and Mineral Resources Minister Jero Wacik has denied that ...
Friday, 08 June 12
NO IMMEDIATE IMPACT ON ADARO'S RATING FROM BEP TRANSACTION - FITCH RATINGS
Fitch Ratings has said that PT Adaro Indonesia's (Adaro, 'BB+'/ Stable) ratings are not immediately affected by its parent PT Adaro Energy Tbk's ...
Thursday, 07 June 12
DRY BULK MARKET FALLS FOR 10 STRAIGHT SESSION ON OVERSUPPLY PROBLEMS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A resurgence of oversupply, coupled with national holidays in various parts of the world has contributed to yet another fall of the dry bulk market ...
Thursday, 07 June 12
COAL EXPORT TAX NOT RATIONAL: MINISTER - THE JAKARTA POST
Trade Minister Gita Wirjawan has criticized as irrational the idea to restrict coal exports by imposing an export tax, According to The Jakarta post ...
Thursday, 07 June 12
BY 2022 PLN IS EXPECTED TO BURN AROUND 125 MILLION TONS OF COAL
COALspot.com - Indonesia's state owned electricity company's (PLN) coal consumption is expected to reach 125.7 million tons by 2012.
Nur Pamudj ...
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- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- The University of Queensland
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
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