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