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