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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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Friday, 20 April 12
BUMA HAS PRODUCED 2.6 MILLION TONS OF COAL IN MARCH 2012
COALspot.com - BUMA has removed 28.0 million bcm (+6.4% YoY) of overburden in March 2012 while coal production was at 2.6 million tons (+1.3% YoY).
...
Thursday, 19 April 12
FRESH COAL SALES FROM JATENERGYS JONGKANG MINES
COALspot.com - Energy company Jatenergy Ltd (ASX code JAT) announced today that it had signed a contract for an 11,000 tonne coal sale due for shipm ...
Thursday, 19 April 12
HANDY - 'POSITIVE TREND', PANAMAX - 'A FIRMER TENDENCY', CAPESIZE - 'AGAIN NEGATIVE'
Handy
The positive trend from last week continued, with more cargoes entering the market. Skaw/Passero del fixed tick above USD 4000 for US Gulf di ...
Thursday, 19 April 12
WILLIS MARINE MARKET REVIEW FORECASTS ANOTHER DIFFICULT YEAR - WILLIS GLOBAL MARINE / HELLENIC SHIPPING
After an inauspicious start, 2012 could well be "another difficult and uncertain year for the maritime industry faced with the aftermath of the ...
Wednesday, 18 April 12
INDONESIA TO INTRODUCE EXPORT DUTY ON MINERAL ORES BY 6 MAY 2012
The Indonesian government is scheduled to issue regulation on export duty for minerals before May 6, 2012.
According to Bisnis Indonesia, as quot ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- The University of Queensland
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Minerals Council of Australia
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Planning Commission, India
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
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