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