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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 October 11
CAPESIZE - A SURPRISE JUMP IN RATES - BRS
There was a surge across all sizes last week, resulting in the BDI gaining 101 points to end the week at 2,000 points (+5.3%). The BCI reached 3,218 ...
Wednesday, 12 October 11
CAPESIZE FREIGHT RATES BOUND TO RETREAT FROM 2011 HIGHS ON THE BACK OF TONNAGE OVERSUPPLY SAYS BIMCO
According to Nikos Roussanoglou, Hellenic Shipping, with the BDI (Baltic Dry Index) breaking yet another 2011 high yesterday and ending the se ...
Tuesday, 11 October 11
GLENCORE, SUITOR FOR BUMI PLC? - INSIDER STORIES
Insider Stories reported that, the largest commodities trader in the world, Glencore International Plc, is considering an opportunity to acquire a m ...
Tuesday, 11 October 11
RENUKA COALINDO BUYS JAMBI COAL
PT Renuka Coalindo Tbk, formerly PT Allbond Makmur Usaha Tbk plans to acquire PT Jambi Prima Coal holder of mining concession in Pauh, Sa ...
Monday, 10 October 11
MOZAMBIQUE CHANNEL TO BE THE NEW PIRACY HOTSPOT FOR THIS YEAR SAYS MARITIME SECURITY EXPERT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Mozambique Channel, as well as the entrance to the Persian Gulf, are expected to become some of the new pirate hotspots for piracy, says Richard ...
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- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Bhatia International Limited - India
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Planning Commission, India
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
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