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