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