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