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