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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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Thursday, 03 May 12
DRY BULK MARKET REMAINS INACTIVE, POSTING MILD DECREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept retreating this week, although at a very low pace, on the back of a lull in demand. The industry's benchmark, th ...
Thursday, 03 May 12
MINERS DEMAND LEGAL CERTAINTY ON PRE-BAN INTERIM POLICY - THE JAKARTA POST
The Jakarta Post reported that, Mining companies represented by the Indonesian Mining Association (IMA) welcomed the government’s plan to impo ...
Thursday, 03 May 12
HANDY EAST COAST INDIA - CHINA AROUND USD 7000 - FEARNLEYS AS
Handy - Stable demand in the Atlantic offered good rates for the tonnage.
USG/Cont was worth USD 17500 and more. Baltic and Black Sea appeared to ...
Wednesday, 02 May 12
CHINA BLACKOUTS HIGHLIGHT PRICING POLICY WEAKNESS - FITCH
Fitch reported that, the likelihood of further electricity blackouts in China this summer underlines Fitch's view of the basic problem f ...
Tuesday, 01 May 12
VIETNAM FEARS IT MAY NOT SEEK COAL SUPPLIES - TBKTSG / VIETNAMNET BRIDGE
TBKTSG / VietNamNet Bridge reported that, with five coal-run thermopower plants under construction, PetroVietnam alone would need 18 million tons of ...
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- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Mjunction Services Limited - India
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Planning Commission, India
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
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