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