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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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Tuesday, 14 August 12
SAKARI SIGNS HEADS OF AGREEMENT TO ACQUIRE SIX COAL CONCESSIONS IN INDONESIA
COALspot.com - Sakari has signed a Heads of Agreement (HOA) to acquire a 100% interest in up to six IUPs, covering an area of over 29,000 hectares, ...
Tuesday, 14 August 12
UNCERTAIN FUTURE FOR DRY BULK PANAMAX SHIPS - DREWRY / HELLENIC SHIPPING
The dry bulk shipping market is in a poor state, with the Capesize segment the worst of all. Unfortunately, the latest analysis from Drewry Maritime ...
Monday, 13 August 12
5TH VIETNAM PORTS AND LOGISTICS 2012
Press Release - Co-hosted by VINAMARINE, the 5th Vietnam Ports and Logistics2012 will feature dedicated sessions on port and transport infrastructur ...
Monday, 13 August 12
ACTIVE DRY BULK FLEET INCREASES BY 8% SO FAR IN 2012 IN TERMS OF TONNAGE CAPACITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It’s no wonder that the dry bulk market has been tethering since the start of the year. the overflow of tonnage has been so enormous, that eve ...
Sunday, 12 August 12
COAL FREIGHT RATES FALL FLAT TO SOFT ON OVERSUPPLY, WEAK DEMAND - VISTAAR SINGAPROE
COALspot.com - The BDI continued its fall 10th August.
This week all segments were down including BDI down by 9.15 pct closing at 774 points .The ...
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- Sojitz Corporation - Japan
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- ASAPP Information Group - India
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
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