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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, 01 September 12
PANAMAX FREIGHT RATES UNDER PRESSURE FROM LOW DEMAND - VISTAAR
COALspot.com - This week the freight market was weak with mixed results.
The BDI was down by 1.95 pct closing at 703 points, however there was so ...
Friday, 31 August 12
ADVERSE SHIPPING MARKET CONDITIONS SHORTENS LIFE SPAN OF VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The adverse conditions which have been put in place in the world's freight markets, means that ship owners are forced to scrap vessels of a much yo ...
Thursday, 30 August 12
INDO-INDIA, LARGE ECO SUPRA NOW FIXED AT USD 7K FOR DELIVERY SINGAPORE - FEARNLEYS AS
Handy
The Supra market continued its negative trend with little fresh business entering the market. Continent positions fixed around USD 4k for tri ...
Thursday, 30 August 12
DRY BULK MARKET STILL LOOKING OUT FOR BETTER DAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With things in China moving slowly this week, as a result of holidays, it’s no surprise that the latest positive trend in the dry bulk market ...
Wednesday, 29 August 12
COLOMBIA'S MINING BOOM: PART TWO - JOSEPH KIRSCHKE
One of the most prominent casualties of Canada's entry into the Colombian mining sector has been a priest named Jose Reynal-Restrepo. Last Septembe ...
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- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Economic Council, Georgia
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
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