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