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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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Sunday, 28 August 11
FREIGHT MARKET COULD BE FIRM NEXT MONTH - VISTAAR
COALspot.com - The freight market continued the upward trend first half of the week . However, towards the end of the week lost momentum and the BDI ...
Saturday, 27 August 11
JAPANESE BULK CARRIER SETS RECORD ON NORTHERN SEA ROUTE - BARENTS OBSERVER
The Northern Sea Route will see its third record in less than a month when the largest ever bulk carrier to take the route leaves Murmansk next week ...
Saturday, 27 August 11
RBCT-INDIA ROUNDS FIXED AT AROUND US$ 12K - FEARNBULK
Handy
Stable but very positional markets across all segments in the Atlantic: the gap between owners and charterers rate ideas is building up as o ...
Friday, 26 August 11
TUAH TURANGGA AGUNG ACQUIRES AN ADDITIONAL 40% SHARES IN BARA PRIMA AGUNG
COALspot.com - PT Tuah Turangga Agung, a subsidiary of PT United Tractors Tbk, has signed an acquisition agreement to acquire 40% of PT Bara Prima A ...
Friday, 26 August 11
INTRACO EYES US$200 MIO COAL TAKEOVER - INSIDER STORIES
Heavy equipment distributor PT Intraco Penta Tbk, that was founded by Halex Halim, is scouting a coal acquisition with the valuation above US$200 mi ...
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- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
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