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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, 14 March 12
GLOBAL THERMAL TRADE FLOW CHANGES WILL ENSURE SECURITY OF THERMAL COAL SUPPLY, ALBEIT AT A HIGH PRICE - WOOD MACKENZIE
Wood Mackenzie Says Global Thermal Trade Flow Changes Will Ensure Security of Thermal Coal Supply, Albeit At a High Price Seaborne thermal demand by ...
Wednesday, 14 March 12
COKAL TAKES ANOTHER STEP IN DEVELOPING INFRASTRUCTURE TO FACILITATE METALLURGICAL COAL PRODUCTION
Global coal group, Cokal Limited (ASX-CKA), has signed Memorandums of Understanding (MoU’s) to develop two river ports and two small scale coa ...
Tuesday, 13 March 12
CLARIFICATION OF GR 24 OF 2012 REQUIRING DIVESTMENT OF FOREIGN OWNERSHIP OVER TIME
ASX Announcement
Global metallurgical coal group, Cokal Limited (ASX-CKA), is responding to the recent announcement of the Indonesian Ministry of ...
Tuesday, 13 March 12
EUROPEAN COAL CONTANGO: FURTHER STEEPNESS REQUIRED TO MAKE LARGE SCALE PHYSICAL TIME SPREAD ARBITRAGE MORE ATTRACTIVE - MISWIN MAHESH, BARCLAYS CAPITAL
COALspot.com - "With the contango between the Y+1 and M+1 ARA delivered contract now averaging above the $14/t level, there is an increasing in ...
Monday, 12 March 12
DELTA DUNIA 1M OVERBURDEN DROPS 3.1% - INSIDER STORIES
Insider Stories reported that, Indonesia's second largest coal mining contractor PT Delta Dunia Makmur Tbk (DOID) reported a 25 million bank ...
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Showing 4806 to 4810 news of total 6871 |
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- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Mercator Lines Limited - India
- White Energy Company Limited
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Economic Council, Georgia
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Planning Commission, India
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
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