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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, 07 August 12
2ND ANNUAL FLOATING TERMINALS
Press Release - After a ground breaking and successful launch in 2011, the 2nd Annual Floating Terminals conferenceis back to address innovation, co ...
Tuesday, 07 August 12
KRISHNAPATNAM PORT HAS DISCHARGED 122,247 MTS OF COAL IN JUST 24 HRS
COALspot.com - Keeping with the tradition of the new records that are set at the Olympic Games 2012, Krishnapatnam Port has also achieved in setting ...
Tuesday, 07 August 12
THE JAKARTA POST EDITORIAL: REVISITING THE MINING LAW
The Jakarta post, one of the leading English news paper in Indonesia writes in its editorial today, what the domestic and foreign investors had drea ...
Tuesday, 07 August 12
BARAMULTI SET TO LIST ON BOURSE IN Q4 - JP
The Jakarta Post reported that, coal miner PT Baramulti Sukses Sarana is preparing to make its shares available to the public in the fourth quarter ...
Tuesday, 07 August 12
REALM RESOURCES COMPLETES STUDY ON ITS KATINGAN RIA COAL PROJECT
COALspot.com - Realm Resources Ltd. has announced that it has completed the Project Study for the Katingan Ria Project in Central Kalimantan, Indone ...
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- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Australian Coal Association
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
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- Borneo Indobara - Indonesia
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- India Bulls Power Limited - India
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- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
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- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
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- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
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- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
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