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