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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, 21 July 12
THE FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT NEXT WEEK - VISTAAR
COALspot.com - The freight market was soft this week as all the segments were down.
The BDI was down by 6.58 pct closing at 1,037 points and the ...
Saturday, 21 July 12
INDONESIAN COMPANIES ABM INVESTAMA AND AVRA ASIA WORK OUT LONG-TERM CONTRACT - THE JAKARTA GLOBE
The Jakarta Globe, one of the leading English news papaer in Indonesia reported that, ABM Investama, a company with diversified interests in coal mi ...
Friday, 20 July 12
INDONESIA-INDIA SUPRAS BEING FIXED AT $ 10K
Handy
After a stable last week, the Handysize market has experienced softening rates in the Atlantic. Ships are ballasting from India into the Atla ...
Friday, 20 July 12
HANDYSIZES PROVE RATHER ATTRACTIVE AMONG OTHER SHIPS, IN TERMS OF FUTURE RETURNS ON INVESTMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Handysize segment of the dry bulk market appears to offer the best incentive among other ship types, for a ship owners to invest in, says Interm ...
Wednesday, 18 July 12
TAIWAN POWER COMPANY TO IMPORT 0.588 MILLION TONS OF LOW ASH AND EXTRA LOW SULFUR SUB-BITUMINOUS COAL
COALspot.com - Taiwan Power Company intends to procure 588,000 MT tons of extra low sulfur sub-bituminous coal for Taipower thermal power plant thro ...
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- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Parliament of New Zealand
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
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