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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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Monday, 26 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The Baltic Dry Index follows its upward incline for fourth consecutive week by rising to more than 900 points, up by 37% from the bottom low in the ...
Monday, 26 March 12
GOLDEN MINES FY11 REVENUE JUMPS 209% - INSIDER STORIES
Insider Stories reported that, coal miner PT Golden Energy Mines Tbk (GEMS), that is controlled by Sinar Mas Group, recorded a 209% jump in revenue ...
Saturday, 24 March 12
AUSTRALIA'S MINERAL TAX : BENCHMARK FOR OTHER COUNTRIES - SUNIL K KUMBHAT
COALspot.com - Natural resources rich counties like Australia , Indonesia , South Africa , Brazil etc are going through a spectacular resources boom ...
Saturday, 24 March 12
THE AVERAGE CHARTER RATES WAS AT CAPESIZE $ 4,546 PER DAY VS SUPRAMAX / $ 10,819 PER DAY - VISTAAR
COALspot.com - The BDI crossed 900 points this week closing at 908 points up by 3.89 pct. All other sectors were up except for cape index whic ...
Thursday, 22 March 12
ECI-CHINA HANDY RATES ARE AROUND US$ 8000 - FEARNLEYS
Handy
Another positive trend was seen last week with more cargoes entering the market. Skaw-Passero/US Gulf climbed slowly up to USD 3700, while US ...
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- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Australian Coal Association
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- The University of Queensland
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
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