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