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