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