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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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Monday, 22 August 11
MACRO ECONOMICS - PETER SAND BIMCO / HELLENIC SHIPPING
The US is jeopardising the global recovery as job creation remains top challenge across the board.
Global economy: While growth in most emerging ...
Sunday, 21 August 11
SUPRAMAX AVAILABILITY WAS TIGHT DUE TO UPCOMING RAMADAN HOLIDAYS
COALspot.com - The financial markets have been in turmoil with all major stock exchanges down and uncertainty prevails. However the shipping market ...
Sunday, 21 August 11
TUAH TURANGGA ACQUIRES DUTA NURCAHYA
Coal miner PT Tuah Turangga Agung, a wholly owned subsidiary of PT United Tractors Tbk (UNTR) via PT Pamapersada Nusantara), has agreed to acquire 6 ...
Friday, 19 August 11
INDIAS CICTL HAS ACHIEVED ONE MILLION TONS OF DISCHARGE
COALspot.com - Chettinad International Coal Terminal (CICTL) in Ennore port, a state of the art mechanized coal terminal, which was inaugurated on 28t ...
Friday, 19 August 11
AUSTRALIAS' ATH TO ACQUIRE 60% OF APUAH COAL MINE IN INDONESIA
COALspot.com - Australian listed company, Atech Holdings Limited (ATH) has entered into a conditional binding term sheet to acquire 60 percent stake ...
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- Jaiprakash Power Ventures ltd
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- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
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- Bhoruka Overseas - Indonesia
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- CNBM International Corporation - China
- Bhatia International Limited - India
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- GMR Energy Limited - India
- SMC Global Power, Philippines
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- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
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- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
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- Minerals Council of Australia
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- Semirara Mining Corp, Philippines
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- London Commodity Brokers - England
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- Central Java Power - Indonesia
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- Central Electricity Authority - India
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- Economic Council, Georgia
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- Romanian Commodities Exchange
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- Bukit Baiduri Energy - Indonesia
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- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
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- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Indian Energy Exchange, India
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- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
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- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
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- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
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- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- The University of Queensland
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- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
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- Altura Mining Limited, Indonesia
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- Indian Oil Corporation Limited
- Deloitte Consulting - India
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- Ministry of Transport, Egypt
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- Electricity Generating Authority of Thailand
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- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
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- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
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