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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, 26 October 11
INDIAN MARKET WAS REMAINED TIGHT THE WHOLE LAST WEEK - BRS
The market once more seems to be at a crossroads. The indices last week remained fairly stable (except for the Panamax sector), ending the week as f ...
Tuesday, 25 October 11
DRY BULK MARKET STEADY, ANALYSTS LOOKING FOR ADDED PRESSURE ON THE MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was unchanged on Monday, with the industry’s benchmark, the BDI (Baltic Dry Index) ending the session at 2,153 points, exa ...
Monday, 24 October 11
NEW HEAD OF INDONESIA'S MINING MINISTRY GETS RAKED OVER THE COALS - JOSEPH KIRSCHKE
COALspot.com - Following Indonesia’s presidential cabinet shakeup last week, many are questioning the qualifications of Energy and Mineral Res ...
Monday, 24 October 11
CHINA QINHUANGDAO COAL PRICE RISES TO HIGHEST IN THREE YEARS - BUSINESSWEEK
Business week reported that, China’s power-station coal price rose to the highest level in three years as power stations and central heating p ...
Monday, 24 October 11
CAPESIZE RENTAL RATES RISE FOR THIRD DAY AS MORE SHIPS HIRED - HELLENIC SHIPPING
Rates to hire capesize vessels advanced for a third day on signs of increased demand to transport iron ore, used to make steel.Daily rates for the s ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Marubeni Corporation - India
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
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