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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, 29 March 12
DRY BULK EDGED FURTHER UP, ON HEALTHY DEMAND FOR MOST SHIP TYPES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With capesize vessels finally reappearing in demand, the dry bulk market had an easier task of rising yesterday, as the BDI (Baltic Dry Index) reach ...
Thursday, 29 March 12
ADARO FY11 NET INCOME JUMPS 124% - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk (ADRO) today announced a 124% jump in net income to US$552 million last year or US$0.017 a share. ...
Wednesday, 28 March 12
CUESTA HAS RECEIVED APPLICATIONS AND FIRM BIDS IN EXCESS OF $9 MILLION FOR THE COMPANYS IPO
COALspot.com - The Directors of Cuesta Coal Limited (ASX:CQC) have announced that today it has received applications and firm bids in excess of $9 m ...
Wednesday, 28 March 12
ORPHEUS ENERGY TO COMMENCE JORC DRILLING AT ADK PROJECT
COALspot.com - Indonesian coal explorer and producer, Orpheus Energy (ASX:OEG), have today announced that the company is about to commence a drillin ...
Tuesday, 27 March 12
DRY BULK MARKET KEEP RISING FOLLOWING THE SAME TREND OF LAST WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum this week, on the same reasons of those last week. That is, the smaller ship types are still on the ris ...
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- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Planning Commission, India
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- The University of Queensland
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
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