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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, 07 July 12
EXCESS SUPPLY & WEAK DEMAND KEEP COAL PRICES LOW
COALspot.com - SGX AsiaClear OTC Coal Swaps for August and Q4 deliveries slipped slightly this week. SGX’s Indonesian sub-bituminous coal swap ...
Saturday, 07 July 12
BALTIC INDEX UP ON STRONG CAPE, PANAMAX RATES - VISTAAR
COALspot.com - This week all the segments were firmed up with BDI up by 15.23 pct (up by 153 points) closing at 1,157 points.
The cape index also ...
Saturday, 07 July 12
DRY BULK MARKET NOT ABLE TO FIND SOLID GROUND SAY EXPERTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the second half of each, traditionally looking the most active one, especially in terms of newbuildings being delivered, it's highly unlikely ...
Thursday, 05 July 12
GOVT GETS READY FOR $1.8B SUIT - THE JAKARTA POST
The Jakarta Post, one of the leading Indonesian English new papers reported that, several ministries and the Attorney General’s Office held a ...
Thursday, 05 July 12
DRY BULK MARKET MOVES FURTHER UP THE HILL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its growth momentum by the middle of the week, as the BDI (Baltic Dry Index) rose by an additional 40 points to 1,103 p ...
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- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- The University of Queensland
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
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