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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, 18 May 12
EXPORT TAX WILL ERODE PROFITS, INDONESIAN COAL EXEC COMPLAINS - THE JAKARTA GLOBE
The Jakarta Globe reported that, A 20 percent export duty the government has imposed on 14 mineral ore products will not only take a toll on mining ...
Friday, 18 May 12
KOREA EAST WEST POWER LOOKING FOR TOTAL 2.6 MILLION TONS OF 4600 NAR COAL AT FIXED PRICE FOR 5 YEARS
COALspot.com - Korea East West Power Co., Ltd is inviting bids to supply of 520,000 Metric Tons (per annum) of minimum 4,600 kcal/kg coal of N ...
Friday, 18 May 12
NICKEL ORE CARGOES ARE NOT SEEN IN MARKET ANYMORE DUE TO ON-GOING INDONESIAN BAN - FEARNLEYS AS
Handy
The market remained variable.
Fronthaul voyages both from Baltic and Black Sea paid over USD 18k/day. From USG to Cont tonnage would get ...
Thursday, 17 May 12
COAL MINERS OPPOSE EXPORT TAX, SUGGEST OUTPUT QUOTA - THE JAKARTA POST
The Jakarta Post reported that, coal miners have suggested that the government apply a production quota instead of implementing an export tax in ord ...
Thursday, 17 May 12
DRY BULK MARKET STILL LOOKING FOR NEW DIRECTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept on moving sideways during this week, with the mixed performance across all segments. Yesterday, the industry’s be ...
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- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- PTC India Limited - India
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Petron Corporation, Philippines
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- The University of Queensland
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
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