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