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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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Saturday, 15 October 11
BENGAL COAL IMPORT TEST - THE TELEGRAPH
The Telegraph reported that, the power position in Bengal improved today but alarm bells are ringing over imported coal stocks that are running out ...
Friday, 14 October 11
CAPE DERIVATIVES MARKET HAS NOT REFLECTED OWNERS EXPECTATIONS' - FEARNBULK
Handy
The Atlantic market continued its upward trend, with fresh cargo entering the market. Skaw Passero to US Gulf climbed US$ 1500 from la ...
Friday, 14 October 11
ADARO BUYS SERVO MEDA FOR RP200 BIO - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk (ADRO) announced that its subsidiary PT Alam Tri Abadi (ATI), acquired 35% stake in PT Serv ...
Thursday, 13 October 11
DRY BULK MARKETS RALLY CONTINUES, BUT ANALYSTS WARN IT WILL BE SHORTLIVED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market continued its push forward yesterday, for yet another session, as the BDI (Baltic Dry Index), the industry’s benchmark edg ...
Wednesday, 12 October 11
INDONESIAS COAL RUSH - JOSEPH KIRSCHKE
COALspot.com - Last winter, the Chinese government mobilized thousands of soldiers and reservists of the People’s Liberation Army to the port ...
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- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- The Treasury - Australian Government
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Australian Coal Association
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Renaissance Capital - South Africa
- Planning Commission, India
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
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