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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, 22 May 12
NEW ONE-YEAR TIME CHARTERS FOR TWO VESSELS OF EXCEL MARITIME CARRIERS LTD.
Excel Maritime Carriers Ltd. (NYSE: EXM), an owner and operator of dry bulk carriers and an international provider of worldwide seaborne transportat ...
Tuesday, 22 May 12
DRY BULK MARKET STEADY, AWAITING FURTHER RISE IN DEMAND WHICH IS DOUBTFUL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Traditionally, the second and third quarters of the year are the strongest for the dry bulk market, but this year, things seem to be quite subdued, ...
Sunday, 20 May 12
SPOT FREIGHT RATE DIPS FURTHER - VISTAAR
COALspot.com - The BDI was marginally up by 3 points (0.26 pct) closing at 1,141 points.
The cape index was up by 1.17 pct closing at 1,633 point ...
Saturday, 19 May 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS DROP US$ 2.88 PMT W-O-W
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for June deliveries have drops this week by 3.86 percent and& ...
Saturday, 19 May 12
INDONESIAN EXPORT TAX GIVES COAL MINERS A CHEAP RIDE: ANALYSTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s policy to exclude coal from an export tax that has been applied to 14 other mineral commodities h ...
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- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Deloitte Consulting - India
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- ASAPP Information Group - India
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Siam City Cement - Thailand
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- The University of Queensland
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
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