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Friday, 27 January 12
DEMOLITION ACTIVITY NEEDS TO INCREASE SIGNIFICANTLY THIS YEAR AS WELL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The oversupply of vessels in most shipping sectors is so intense that it’s become clear to ship owners that unless they scrap as many of their older ships as possible, freight rates are expected to remain at break-even lows or even worse. This has become particularly evident in the dry bulk shipping market, where the industry’s benchmark, the Baltic Dry Index has dropped yesterday to just 753 points, down 3.95% on the day and more than 60% since late last year.
Meanwhile, in the demolition market, as Golden Destiny mentions in its latest weekly report, “Bangladesh scrapping ban has been finally lifted, but the government has imposed a new 5% tax on purchasing vessels for scrap that is going to influence scrap buyers appetite on stronger purchases. The Bangladesh Shipbreaking Association is pushing for a reduction in the rate, down to 0.5% that could lead scrap prices to fall by as much as $25/ldt. Scrap prices for dry and wet cargo are close to $500/ldt, but the current freight market environment offers a strong incentive for shipowners to move with overaged vessel disposals and ease the pain of oversupply. India offers the best levels with Bangladesh to follow, $460-$470/ldt for dry and $480-$490/ldt for wet cargo.
The week ended with 17 vessels reported to have been headed to the scrap yards of total deadweight 1,009,630 tons. In terms of the reported number of transactions, the demolition activity has been marked with a 23% week-on-week decline, due to 30% lower volume of demolition transactions in the bulk carrier segment, whereas there has been a 28% increase regarding the total deadweight sent for scrap. In terms of scrap rates, the highest scrap rate has been achieved this week in the tanker segment by India for M/T “BOW PROSPER” with 12,200/ldt at $525/ldt. India has attracted 41% of the total demolition activity with China to follow by winning 5 disposals. At a similar week in 2011, demolition activity was up by 18% from the current levels, in terms of the reported number of transactions, 20 vessels had been reported for scrap of total deadweight 669,529 tons with bulk carriers and tankers grasping 60% of the total number of vessels sent for disposal. India and Pakistan had been offering $465-$475/ldt for dry and $500-$505/ldt for wet cargo, while Bangladesh market had been inactive from the demolition scene” concluded Golden Destiny.
In a separate report, Clarkson Hellas said that the demolition market has remained very active, with many vessels being circulated and subsequently, a big list of sales to report. “However, to judge the market value of a certain ship is becoming increasingly difficult. As evidenced in the sales list, price levels seem like a ‘free for all’ with no actual pattern emerging, clearly highlighting that each vessels value is an individual case by case scenario. On paper, some units seem similar, yet for some reason, a price differential of anything upto USD 10/ldt can be witnessed.
On the buying front, the Chinese and Indian breakers are taking the plaudits this week.
China has been very busy as they looked to acquire tonnage prior to their New Year festivities and were bidding some aggressive numbers in an effort to claw tonnage away from the Indian sub-Continent. Time will now tell whether this recent positive momentum will continue when the market reopens again after their holidays.
India too emerged this week with increasing price levels. Whether these sudden improvements were from cash buyers over-speculating or actually justified on the back of the breakers indications remains to be seen, but some Owners would have definitely benefited from the sudden enthusiasm emanating from this market.
The good news is Bangladesh is definitely open and for an indefinite period too. Some Buyers are now willing to buy tonnage giving delivery February onwards as they believe the income tax situation would be resolved within this month. There remains however the problem of which breakers can actually open Letters of Credit internally. For Owners to consider Bangladesh as an option, a certain degree of caution must still be adopted. Last thing any Owner would wish for is to arrive at anchorage and delivery is unable to take place due to delayed payments. Some cash buyers are optimistic that no such issues will occur, however this is definitely the time for an Owner to tread carefully and wisely when considering selling their units to this area. Price levels on offer appear to be not as competitive as India. However, Bangladesh may soon offer a viable alternative to China for those vessels completing in the Far East. We need to see several vessels arrive, clear inward formalities and beach without delay to know 100 percent for sure that the market is officially ‘open for business’ concluded Clarkson Hellas
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 12 June 24
CHINA ACCOUNTS FOR 16.3% OF AUSTRALIA'S COAL EXPORTS, FOLLOWED BY INDIA 14.4% - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels says Banchero Costa in its latest report.
...
Wednesday, 12 June 24
LNG NEWBUILDING VALUES AT RECORD HIGH: 78 NEWBUILD ORDERS PLACED IN 2024, DOUBLING 2023 - VESON NAUTICAL
The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first ...
Monday, 10 June 24
CHINA'S MAY COAL IMPORTS RISE 11% ON LOWER DOMESTIC OUTPUT - REUTERS
China’s imports of coal rose 11% in May from a year earlier, customs data and Reuters records showed on Friday, as lower domestic output this ...
Tuesday, 04 June 24
HOW DO WESTERN SANCTIONS ON RUSSIA IMPACT THE GLOBAL METALS, MINING AND COAL MARKETS - WOOD MACKENZIE
The geopolitical landscape for Russia, as a major supplier of various commodities, has undergone a dramatic transformation since the invasion of Uk ...
Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
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Showing 21 to 25 news of total 6871 |
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- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
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