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