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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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Wednesday, 18 July 12
SHIP PRICES HAVE FALLEN RAPIDLY THIS YEAR, FAVORING INVESTORS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The price for a 5 year old Capesize dry bulk carrier of 172,000 dwt has fallen to about $33,4mil from $42.9 at the end of June 2011, while at end of ...
Saturday, 14 July 12
FREIGHT MARKET SEEMS TO BE QUITE VOLATILE - VISTAAR
COALspot.com - The market seems to be quite volatile with the trend changing almost every week. This week all the segments were down except for Pana ...
Friday, 13 July 12
TRANSCOAL MINERGY HAS RECEIVED PMA STATUS IN INDONESIA
COALspot.com - PT Transcoal Minergy (“TCM”) has received official foreign owned company status from the Capital Investment Coordinating ...
Thursday, 12 July 12
LACK OF CAPESIZE DEMAND DRAGS DRY BULK MARKET LOWER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A lack of demand for the larger Capesize dry bulk carriers had as a result the fall of the industry’s benchmark, the BDI (Baltic Dry Index), w ...
Thursday, 12 July 12
RIO TINTO'S SENIOR MANAGEMENT CHANGES
COALspot.com - Rio Tinto is making changes to its senior management team as chief financial officer (CFO) Guy Elliott has decided to retire at the e ...
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- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- PTC India Limited - India
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- London Commodity Brokers - England
- Wilmar Investment Holdings
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
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