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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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Tuesday, 13 February 24
WHAT IS THE OUTLOOK FOR THE NATURAL GAS SPOT PRICE IN 2024 AND 2025? EIA
We expect the U.S. benchmark Henry Hub natural gas spot price to average higher in 2024 and 2025 than in 2023, but to remain lower than $3.00 per m ...
Monday, 12 February 24
US THERMAL COAL EXPORTS HIT 5-YEAR HIGHS AND TOP $5 BLN IN 2023 - REUTERS
United States exporters of thermal coal earned more than $5 billion in 2023 as they shipped out more than 32.5 million metric tons of the high-poll ...
Tuesday, 06 February 24
NEW E-FUELS PROJECT TO MAKE INTERNATIONAL SHIPPING CLIMATE-NEUTRAL - RINA
Transport and trade on the ocean blue must be made much greener. This is the goal of the new €17 million European GAMMA project, where compani ...
Tuesday, 06 February 24
INDIA SEES ANNUAL COAL OUTPUT UP 10.9% IN 2024/25 - REUTERS
India expects domestic coal output to increase by 10.9% to 1.13 billion metric tons in the fiscal year ending March 2025, a senior government offic ...
Tuesday, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
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Showing 36 to 40 news of total 6871 |
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- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- The University of Queensland
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
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