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