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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, 25 August 12
FREIGHT RATES ARE EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - This week the indices showed some signs of improvement will all the segments moving up except for the handy size.
The BDI was marg ...
Saturday, 25 August 12
INDONESIAN COAL SWAP REMAINS STABLE AT LOW LEVEL
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery gain 0.804 percent W-o-W on Friday (24 August 2012) closing but lost 0. ...
Thursday, 23 August 12
INDONESIA-INDIA, LARGE ECO SUPRA FIXED AT USD 6K FOR DELIVERY SOUTH CHINA - FEARNLEYS AS
Handy
The market continued the same trend as last week, low activity and holidays in some countries.
Rate wise unchanged, with US Gulf/Continent ...
Thursday, 23 August 12
EGCO GROUP EXPANDS TOWARDS INTEGRATED ENERGY BUSINESS WITH INVESTMENT IN INDONESIAS COAL MINE
Electricity Generating Public Company Limited or EGCO Group, the Thailand’s first Independent Power Producer has continually invaded foreign m ...
Thursday, 23 August 12
EGCO GROUP ANNOUNCES 2 BILLION BAHT PROFITS IN Q2/2012
Successfully Establishes Integrated Energy Business and Strengthen Investments in ASEAN
Mr. Sahust Pratuknukul, President of Electri ...
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- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- The University of Queensland
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
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