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