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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, 22 March 12
DRY BULK MARKET KEEPS SURGING, CAPESIZES FALLING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what seems to be an establishing pattern, the dry bulk market has kept its upward momentum, edging closer to the 900 point-mark, but the larger s ...
Wednesday, 21 March 12
BUMA HAS PRODUCED 2.3 MILLION TONS OF COAL IN FEBRUARY 2012
COALspot.com - PT. Delta Dunia Makmur's overburden removal in February 2012 has reached totaled 23.8 million bcm (+2.4% YoY) while coal production ...
Tuesday, 20 March 12
SMALLER DRY BULK VESSELS STILL LEADING DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been growing during the past couple of weeks, but contrary to the usual practice, it’s not the larger Capesizes which ...
Monday, 19 March 12
WEEKLY DRY MARKET OVERVIEW: SMALLER VESSELS LEAD RATES HIGHER - MARIA BERTZELETOU, HELLENIC SHIPPING
The upward trend of the Baltic Dry Index persists strong from the end of February, spurred from the supramax market that offsets the weakness in the ...
Sunday, 18 March 12
BUKIT ASAM'S NET PROFIT IN 2011 ROSE 54% TO US$ 339.56 MILLION
COALspot.com - Company revenue for the period January - December 2011 amounting to Rp 10.6 trillion (approximately US$ 1,164,835,164.84) recorded an ...
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- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Australian Coal Association
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- White Energy Company Limited
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Deloitte Consulting - India
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
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