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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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Tuesday, 27 September 11
A STRONG REBOUND FOR THE CAPE MARKET - BRS
A strong rebound for the Cape market, as cargoes continued to flow into the market and tonnage remained tight in the Atlantic, according to Barry Ro ...
Tuesday, 27 September 11
INTRACO SEALS US$25.3 MIO ORDER - INSIDER STORIES
Insider Stories reported that, Heavy equipment distributor PT Intraco Penta Tbk (INTA) obtained a US$25.3 million order on hand of heavy equipments ...
Sunday, 25 September 11
THE CHARTER RATES FOR INDONESIA TO INDIA WAS FIRM - VISTAAR
COALspot.com - The freight market moved up sharply with the cape Index up by 11 pct pushing the BDI by almost 6 pct and closing at 1,920 point ...
Saturday, 24 September 11
GOVT PLANS TO RENEGOTIATE ALL CONTRACTS INCLUDING FREEPORT - JP
The Jakarta Post reported that, the Energy and Mineral Resources Ministry has confirmed plans to renegotiate all mining contracts including those wi ...
Friday, 23 September 11
ICMA TO BUILD UPGRADE FACILITIES TO ANTICIPATE BAN ON LOW-GRADE COAL EXPORT BY 2014
COALspot.com - January to August of this year, Indonesia’s coal production had already reached 235 million tons. Earlier estimates had targete ...
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- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
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