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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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Thursday, 20 October 11
BRACKEN INTERNATIONAL MINING LISTS ON FRANKFURT STOCK EXCHANGE
Press Release - Bracken International Mining (Code:1BM) listed on the Deutsche Börse’s Frankfurt Stock Exchange today at €1.00 with ...
Thursday, 20 October 11
CAPESIZES, SUPRAMAXES LEAD GAINS FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Struggling to find additional support, but still managing to post gains, the dry bulk market has stabilized itself on higher levels again yesterday, ...
Wednesday, 19 October 11
METALLURGICAL COAL PRICES TO DROP BELOW US$240/TONNE - WOOD MACKENZIE
Wood Mackenzie Says Metallurgical Coal Prices to Drop Below US$240/tonne by Q4 2012 But Long-term Demand Fundamentals Remain Robust
Wood Mackenzi ...
Wednesday, 19 October 11
SUPRAMAX MARKET WAS VERY FIRM LAST WEEK - BRS
With all sectors contributing positively, the BDI ended the week at 2,173 points (+8.6%), its highest level so far in 2011. The BCI stood at 3,587 ( ...
Wednesday, 19 October 11
ADARO ACQUIRES BUKIT ENIM ENERGI - INSIDER STORIES
Insider Stories reported that, Coal miner PT Adaro Energy Tbk, via its subsidiary dubbed PT Alam Tri Abadi, today revealed a 46% stake takeover of a ...
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- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- The University of Queensland
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
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