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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, 12 March 12
DRY BULK RATES WILL REMAIN LOW IN 2012 SAYS DANISH SHIP FINANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its annual shipping survey Danish Ship Finance said that the current outlook for the Dry Bulk market seems unlikely to foster higher rates in any ...
Monday, 12 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first days of March appear to be more encouraging for dry bulk operators, but the outlook is still gloomy for the rest of year with earnings for ...
Sunday, 11 March 12
FREIGHT RATES FOR INDONESIA TO INDIA WILL CONTINUE TO REMAIN FIRM- VISTAAR
COALspot.com - This week saw another upward trend with all indices up except for the Cape index.
The BDI was up by 6.87 pct closing at 824 points ...
Friday, 09 March 12
MINING IN INDONESIA: RESTRICTION ON FOREIGN INVESTMENT - SUNIL K KUMBHAT
COALspot.com - Recently Govt has passed regulation instructing foreign mining companies to reduce their ownership stake.
The regulation known as ...
Friday, 09 March 12
SHIP OWNERS LOOKING TO CHINA FOR REVIVAL, WHILE THEY KEEP SELLING OLD SHIPS FOR SCRAP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With China’s economic policy plan for the future on every ship owner’s mind, at least those involved in the dry bulk industry, the lates ...
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Showing 4811 to 4815 news of total 6871 |
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- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Planning Commission, India
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
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