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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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Friday, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
Friday, 22 March 24
CHINA COAL INDUSTRY GROUP EXPECTS OUTPUT GROWTH TO SLOW IN 2024 - REUTERS
China’s coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry gro ...
Monday, 18 March 24
THREE KEY TAKEAWAYS FROM OUR EUROPE GAS MARKETS SHORT-TERM OUTLOOK Q1 2024 - WOOD MACKENZIE
European gas prices are currently back to pre-crisis levels, but with a complex series of factors affecting future supply and demand, are they set ...
Wednesday, 06 March 24
INDONESIA AIMS TO FINISH MINING OUTPUT QUOTAS APPROVAL BY END-MARCH, OFFICIAL SAYS - REUTERS
Indonesia’s has approved the mining production quotarequests from more than 120mineral companies and aims to complete the approval process th ...
Monday, 04 March 24
IS YOUR GUARANTEE A GUARANTEE? NOTE TO SHIPOWNERS - GARD
KNOWLEDGE TO ELEVATE
The law of guarantees is not always obvious or easy to understand without proper guidance. This article clarifies the dif ...
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Showing 26 to 30 news of total 6871 |
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- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Planning Commission, India
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
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