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