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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, 05 April 12
COAL EXPORT TAX: MATTER OF CONCERN FOR INDIA - SUNIL K KUMBHAT
COALspot.com - Since the issuance of Indonesian Mining law in 2009, miners have increased their activities in exploring , ex ...
Thursday, 05 April 12
AKR COAL FIRST EXPORT SHIPMENT OF COAL SEABORNE
PT Anugrah Karya Raya (AKR Coal) subsidiary of PT AKR Corporindo Tbk., Indonesia’s leading integrated supply chain solutions provider and larg ...
Thursday, 05 April 12
DRY BULK MARKET STALLS AS TREND IS REVERSED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has halted its month-long rally, with the BDI (Baltic Dry Index) retreating yesterday for a second consecutive session. Industry ...
Wednesday, 04 April 12
OIL MAY JUMP TO $150PB IF IRAN ATTACKED: EXPERT - KUNA / HELLENIC SHIPPING
Prices of oil will not drop below level of $100 per barrel and may jump to $150 pb in the coming two months, according to the prominent Kuwaiti expe ...
Wednesday, 04 April 12
CHURCHILL MINING TO ACCELERATE INTERNATIONAL ARBITRATION AGAINST INDONESIA
Churchill Mining plc (AIM: CHL), advises that notations on the Indonesian Supreme Court's register of cases shows the Supreme Court has rejected th ...
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- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- The University of Queensland
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- White Energy Company Limited
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Parliament of New Zealand
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
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