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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, 01 June 12
COKAL ACCEPTED ON THE CLEAN AND CLEAR LIST FOR ITS BORNEO BARA PRIMA AND BUMI BARITO MINERAL PROJECTS
- Borneo Bara Prima (BBP) Project confirmed on the Clean and Clear List 9th May 2012
- Bumi Barito Mineral (BBM) Project confirmed on the Clean and ...
Friday, 01 June 12
ADARO BUYS MAJORITY STAKE IN AFFILIATED BHAKTI ENERGI - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk entered into an option to provide a convertible loan of up to US$500 million for a period of 3 ye ...
Thursday, 31 May 12
DRY BULK MARKET UNABLE TO FIND NEW SUPPORT TO REACH HIGHER LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been unable to find new support and recover to higher levels during these past few days. As a result, the Baltic Dry Index ( ...
Wednesday, 30 May 12
ORPHEUS RAISES $2.24M TO ADVANCE INDONESIAN COAL PRODUCTION ASSETS
• $2.24 million raised from a placement to new and existing institutional and sophisticated investors from Australia and overseas
• Funds ...
Wednesday, 30 May 12
ARPENI SECURES TRANSSHIPMENT CONTRACT FROM BARUNA DIRGA
Insider Stories reported that, shipping operator PT Arpeni Pratama Ocean Line Tbk (APOL) has secured a 1-year coal transhipment contract of 4 millio ...
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- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Australian Coal Association
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
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