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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, 02 August 24
COAL MARKET DEVELOPMENTS: FALLING PRICES AMID RECORD-HIGH OUTPUT - WORLD BANK
Coal prices inched up in May (m/m) following an 8 percent decline in 2024Q1. The Australian and South African benchmarks have plummeted more ...
Friday, 26 July 24
FUELEU MARITME IS COMING. IS YOUR CHARTERPARTY READY? - GARD
With less than six months to implementation of FuelEU Maritime in EU and EEA trades, there has been little published advice regarding how to alloca ...
Thursday, 04 July 24
INDIA'S COAL PRODUCTION RISES 14% IN JUNE - PTI
The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last f ...
Tuesday, 02 July 24
NTPC CAPTIVE COAL OUTPUT GROWS 15% IN Q1; DESPATCH RISES 17%
State-owned NTPC on Monday reported a 15 per cent year-on-year increase in the production of coal from captives mines to 9.862 metric million tonne ...
Friday, 28 June 24
KOSPO INVITED BIDS FOR 400,000 MT OF MINIMUM 4000 NCV COAL FOR FIVE YEARS
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for total 400,000 MT of Low Calorific Value Coal for 5 years starting from July 2024 until ...
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- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Videocon Industries ltd - India
- VISA Power Limited - India
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
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