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