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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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Friday, 03 August 12
INDIA - LIGHTS OUT! - SALVA
The Indian power sector hit global headlines this week for all the wrong reasons. Firstly, on Monday, over 350 million people lost power across nort ...
Thursday, 02 August 12
OIL & GAS COMPANIES TO MEET IN MYANMAR FOR UPDATES ON NEW ROUND OF BIDDING AND INVESTMENT POTENTIAL IN UPSTREAM OIL, GAS, AND POWER GENERATION
Press Release - 2nd MOGP Summit (Myanmar Oil, Gas & Power) will convene in Yangon from 3 – 6 September 2012, to unveil new round of biddin ...
Thursday, 02 August 12
DRY BULK MARKET RATES CONTINUE SLUMP AMID SLOWER DEMAND NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on its downward path Wednesday, as the BDI (Baltic Dry Index) kept retreating to new lows. The index was down by 2.12 perce ...
Monday, 30 July 12
DRY BULK MARKET TO REMAIN UNDER PRESSURE FOR THE REST OF 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In an interview with Hellenic Shipping News Worldwide, Mr. Yannis Pachoulis, President of the Hellenic Shipbrokers' Association, remains cautiously ...
Sunday, 29 July 12
FREIGHT MARKET MOMENTUM CONTINUES TO WEAK
COALspot.com - The freight market continued to soft this week with all the segments dropped and the BDI fell below 1,000 points and closed at 933 po ...
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- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- The University of Queensland
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
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