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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, 17 June 12
S7 & S8 ROUTES ARE LIKELY TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The BDI gained some increase after continues fall for several weeks.
The BDI increased by 47 points (up by 5.36 pct) closing at 92 ...
Saturday, 16 June 12
INDONESIAN SUB-BITUMINOUS COAL & CFR SOUTH CHINA COAL CONTRACT SWAPS ARE UNDER PRESSURE
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for July deliveries seems to be under pressure this week.&nbs ...
Friday, 15 June 12
CAPESIZE - THE LEVELS THAT DID FIX ARE DOWN W-O-W LEVELS - FEARNLEYS
Handy
Another slow-moving market with rates hovering at same level as last week. US Gulf positions fixed USD 25,000 for trips to Cont/Passero and S ...
Thursday, 14 June 12
SMALLER DRY BULK CARRIERS LIKELY TO FACE MORE CHALLENGES; DEMOLITION ACTIVITY SET FOR RECORD YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest update on the dry bulk markets, BIMCO said that China is partly “failing to deliver” on raw material imports that can affe ...
Wednesday, 13 June 12
LOW COAL PRICES COULD CHANGE SUPPLY SIDE DYNAMICS - FITCH RATINGS
Fitch Ratings believes that the weakness seen in thermal coal prices in recent months should reverse once demand from major importers recovers, alth ...
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- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- White Energy Company Limited
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Planning Commission, India
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