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