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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, 09 September 11
SUPRA BARA SECURES $20 MILLION LOAN - JP
The Jakarta Post reported that, Coal miner PT Supra Bara Energi says it has secured a US$20 million loan facility from BNP Paribas to buy heavy equi ...
Friday, 09 September 11
CAPESIZE CAN SECURE USD 17-18K SHORT PERIOD - FEARNBULK
Handy
The US Gulf has remained relatively steady, slightly more activity in the South Atlantic with owners aiming for low to mid USD 20k´s f ...
Thursday, 08 September 11
UKRAINES COAL PRODUCTION TO RISE 8% - IFANDP
Industrial fuels & power reported that, Ukraine will increase its coal output by about 8% this year compared to last year, said the country&rsqu ...
Thursday, 08 September 11
DRY BULK MARKETS RALLY COMES TO AN END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected by analysts and shipbrokers alike, the latest rally of the dry bulk market came to a halt yesterday, with the Baltic Dry Inde ...
Thursday, 08 September 11
TRADA MARITIME BUYS GUNUNG BARA UTAMA
Insider Stories reported that, PT Trada Maritime Tbk (TRAM) has purchased convertible bonds issued by PT Awesome Coal from Zakia Limited. The memora ...
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- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- The University of Queensland
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
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