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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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Friday, 22 June 12
GLOBAL ACTION NEEDED ON ENERGY POVERTY - WORLD COAL
Eradicating energy poverty is possibly the biggest challenge facing the world today. Like climate change it can only be addressed with a concerted g ...
Friday, 22 June 12
COAL: THE BACKBONE OF MODERN ELECTRICITY - ECOAL
Coal has been described as the "forgotten fuel," perhaps because many aren't aware of the huge role it plays in powering the global econo ...
Thursday, 21 June 12
DRY BULK MARKET ON THE RISE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was on the rise once again yesterday, with the Baltic Dry Index (BDI), the industry’s benchmark, rising by 18 points, or 1 ...
Wednesday, 20 June 12
BDI MOVING HIGHER, PANAMAX AND SUPRAMAX VESSELS STRONGER, CAPESIZE RATES NEAR TO HISTORICAL LOWS OF DECEMBER 2008 - MARIA BERTZELETOU, HELLENIC SHIPPING
The dry market seems to follow the dynamic of the previous week with the Baltic Dry Index showing daily increases since June 8th, but is still stand ...
Tuesday, 19 June 12
SMALLER DRY BULK CARRIERS LIFT UP MARKET, PANAMAXES SET TO FALL SAYS ANALYST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Another rise for the dry bulk market was evident yesterday, as the industry’s benchmark, the BDI (Baltic Dry Index) was up for a ninth straigh ...
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- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
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