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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, 08 May 12
DRY BULK MARKET LOOKING FOR NEW DIRECTION THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the BDI (Baltic Dry Index) the main benchmark of the dry bulk shipping industry not traded at the start of this week, traders, charterers and s ...
Monday, 07 May 12
INDONESIAN HBA FALL AGAIN IN MAY 2012
COALspot.com - Indonesian HBA fall again to lowest level since January 2011 in May 2012. The monthly coal reference price for coal sales in Ma ...
Sunday, 06 May 12
INDONESIAN SUB-BITUMINOUS COAL & CFR SOUTH CHINA SWAPS SLIGHTLY DROP THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for June deliveries slightly dropped this week.
According ...
Sunday, 06 May 12
S7 & S8 ROUTES LIKELY TO BE FIRM NEXT WEEK VISTAAR SINGAPORE
COALspot.com - The BDI remained flat this week and was up just by 1 point closing at 1,157 points.
The cape size index was up by 5.14 pct closing ...
Sunday, 06 May 12
EXPORT DUTY ON MINERAL FINALLY TO BECOME EFFECTIVE NEXT WEEK
COALspot.com - Mineral ore exporters of Indonesia ( only IUP holders) are required to obtain recommendation letter from the energy and mineral ...
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- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Planning Commission, India
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
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