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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, 23 February 24
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Friday, 23 February 24
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Thursday, 22 February 24
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Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
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Showing 31 to 35 news of total 6871 |
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- VISA Power Limited - India
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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