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