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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, 23 September 11
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Wednesday, 21 September 11
2ND ANNUAL SHALE GAS SUMMIT
2nd Annual Shale Gas Summit 31 October – 3 November 2011 JW Marriott Hotel, Hong Kong
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- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Deloitte Consulting - India
- Siam City Cement - Thailand
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
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- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
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- Eastern Energy - Thailand
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
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- Semirara Mining Corp, Philippines
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- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Minerals Council of Australia
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Parliament of New Zealand
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
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