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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, 06 June 12
INDONESIAN GOVERNMENT'S DECLARED COAL PRICES CONTINUING ITS DECLINE
COALspot.com - Indonesian HBA fell to lowest level since January 2011 in June 2012. The monthly coal reference price for coal sales this month ...
Monday, 04 June 12
MITRABAHTERA SUBSIDIARY SECURES CONTRACT FROM BERAU COAL - INSIDER STORIES
Insider Stories reported that, PT Mitra Alam Segara Sejati, a subsidiary that is 60% owned by PT Mitrabahtera Segara Sejati Tbk (MBSS), has secur ...
Sunday, 03 June 12
TTI ESTABLISHES COAL TRADING & MARKETING OFFICE
COALspot.com - TTI has officially established its coal trading, marketing-office in Jakarta, Indonesia. PT. Gunung Tinggi Coal is the TTI’s fi ...
Sunday, 03 June 12
FREIGHT MARKET CONTINUING ITS DECLINE
COALspot.com - The BDI continued to fall for the fifth straight week and the BDI fell by 2.57 pct this week closing at 904 points.
The Cape Size ...
Friday, 01 June 12
TNPL HAS SECURED 300K MT OF 6000 GAD COAL AT US$ 81 CNF TUTICORIN
COALspot.com - An India based coal trader Adani has offered the lowest price of US$ 81.00 per metric ton for calorific value of 6000 GAD and 15 perc ...
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- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- The University of Queensland
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
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