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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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Sunday, 01 July 12
DSP OF SGX ASIACLEAR OTC COAL SWAP'S THIS WEEKS MOVEMENTS SLIGHTLY POSITIVE
COALspot.com - SGX AsiaClear OTC Coal Swaps have recovered slightly this week and Q4 deliveries are also showing positive direction.
SGX’s ...
Saturday, 30 June 12
THE FREIGHT RATES ARE EXPECTED TO BE STEADY TO FIRM NEXT WEEK - VISTAAR SINGAPORE
COALspot.com – The BDI was up by 2.66 pct (up by 26 points) closing at 1,004 points crossing the 1000 point barrier this week.
The c ...
Friday, 29 June 12
INDONESIAN PRODUCERS ARE PLANNING TO CUT PRODUCTION IF COAL PRICES FALL FURTHER
COALspot.com: Indonesia, the world largest multi grade coal exporter, shipped 31.54* million tons of coal in May 2012, compared to 31.86* mill ...
Friday, 29 June 12
DRY BULK SHIP OWNERS DOING THEIR MATHS BEFORE PLACING NEWBUILDING ORDERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With oversupply having plagued the dry bulk shipping fleet since the end of 2011, it’s become ever so evident that placing a newbuilding order ...
Thursday, 28 June 12
DRY BULK MARKET HIGHER ON CAPESIZE OPTIMISM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched a bit higher yesterday, as the BDI (Baltic Dry Index) ended up by 0.71% to 988 points. Most ship types were up, with the ...
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- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
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