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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, 06 October 11
SOUTH EAST ASIAS AGGRESSIVE POWER DEMAND GROWTH WILL REQUIRE INVESTMENT OF US$125 BN BY 2020 - WOOD MACKENZIE
COALspot.com - Wood Mackenzie says that South East Asia’s demand growth for new power generation is so aggressive that new power generation in ...
Thursday, 06 October 11
CHINESE DEMAND FOR COAL IMPORTS TO MODERATE IN 2012 - MISWIN MAHESH
COALspot.com - We expect Chinese demand growth for imported steam coal to moderate over the next year. Steam coal imports into China will modera ...
Wednesday, 05 October 11
MINISTRY STICKING TO RAW COMMODITY EXPORT BAN DESPITE INDUSTRY FEARS - JG
The Jakarta Globe, the one of the leading English news paper in Indonesia, reported that, the details of a controversial new regulation that would b ...
Wednesday, 05 October 11
ATLANTIC AND PACIFIC BASINS BECAME TIGHTER FOR PANAMAX LAST WEEK - BRS
A slump for both the Capes and Panamaxes sent the BDI down 1% this week, falling to 1,899 points.
The Capes saw the greatest movement, sliding - ...
Wednesday, 05 October 11
WITH CHINA ON HOLIDAY, DRY BULK MARKET REMAINS STAGNANT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has remained to healthy levels after last month’s rally, but with China going on holiday this week, things are looking sta ...
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- Trasteel International SA, Italy
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Indonesian Coal Mining Association
- MS Steel International - UAE
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- The University of Queensland
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
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