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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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Saturday, 03 September 11
TNPL TO BUY 240K MT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL), is seeking to procure 240,000 MT +/- 5 percent of non-coking imported coal with ...
Friday, 02 September 11
CAPESIZE DEMAND LIFTS DRY BULK MARKET ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what proves to be the best week of the year for Capesize owners, strong demand has helped propel the dry bulk market to new highs yesterday. The ...
Thursday, 01 September 11
EWP TO BUY 195KT OF VIETNAM COAL
COALspot.com - Korea Midland Power (KOMIPO) has issued an International open bidding for 490kt of sub bituminous coal, according to a bid invitation ...
Thursday, 01 September 11
DRY BULK MARKET TAKES GREAT LEAP FORWARD - NIKOS ROUSSANOGLOU
In what turned out to be a rather hopeful ending of the month, the last day of August saw the dry bulk market’s benchmark, the BDI (Baltic Dry ...
Tuesday, 30 August 11
FAUJI CEMENT CONSUMED MORE THAN 1 MILLION TONS OF LOCAL COAL
Cooper Minerals Inc.based in Vancouver, BC, Canada, is a junior exploration company engaged in the acquisition, exploration and development of miner ...
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- Deloitte Consulting - India
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- White Energy Company Limited
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- The University of Queensland
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
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