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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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Friday, 30 September 11
INDIAN IRON ORE MARKET GETTING ACTIVE - FEARNLEYS AS
Handy
The Atlantic market continued its strong trend with fresh cargoes entering the market. Vessels open US Gulf fixed tick above US$ 27k back to t ...
Friday, 30 September 11
KRISHNAPATNAM PORT WINS GLOBAL PORT & COAL PORT OF THE YEAR AWARDS
COALspot.com - Krishnapatnam Port, a dynamic new generation world class port located in the East Coast of India has been adjudged the winner in the ...
Thursday, 29 September 11
INDONESIA'S MINERS FACE AN UNCERTAIN FUTURE - RUPERT WALKER
An evolving regulatory framework for the country's minerals industry could threaten its profitability and stifle investment.
The five-year surge ...
Thursday, 29 September 11
DRY BULK MARKET FALLS MID-WEEK, FURTHER DROP EXPECTED NEXT WEEK ON CHINA HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, as reflected by the Baltic Dry Index (BDI) retreated by 0.36% yesterday reaching 1,920 points, with the Capesize segment suffer ...
Wednesday, 28 September 11
ATLAS RESOURCES TO SELL 25% STAKE IN IPO - INSIDER STORIES
Insider Stories reported that, coal producer PT Atlas Resources Tbk, that is controlled by Indonesian businessman Andre Abdi, plans to sell 783.33 m ...
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- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Parliament of New Zealand
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- White Energy Company Limited
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Petron Corporation, Philippines
- The University of Queensland
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
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