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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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Wednesday, 11 April 12
DRY BULK MARKET STILL SUBDUED, RECOVERY NOT YET SEEN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market entered the new week after the past days of easter holidays in western countries in a subdued mood. The industry’s benchma ...
Monday, 09 April 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first week of April ended with the Baltic Dry Index falling below 950 points, before Catholic Easter, and capesizes showing a modest upturn with ...
Sunday, 08 April 12
CHARTER RATES COULD CONTINUE TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The BDI was almost at same levels closing slightly lower by 0.64 pct at 928 points.
The Cape index was up by 6.73 pct closing at ...
Friday, 06 April 12
INDONESIAN HBA FALL TO LOWEST LEVEL SINCE JANUARY 2011
COALspot.com - Indonesian HBA fall to lowest level since January 2011 this month. The monthly coal reference price for coal sales in April fal ...
Friday, 06 April 12
DRY BULK MARKET SWIFT TO HALT FALL ON RENEWED DEMAND FOR CAPESIZES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk managed to put a stop to the recent falls, which came as a result of a lacklustre demand for smaller vessel sizes. Although this trend ...
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- Romanian Commodities Exchange
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Australian Coal Association
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- The Treasury - Australian Government
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