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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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Tuesday, 22 May 12
NEW ONE-YEAR TIME CHARTERS FOR TWO VESSELS OF EXCEL MARITIME CARRIERS LTD.
Excel Maritime Carriers Ltd. (NYSE: EXM), an owner and operator of dry bulk carriers and an international provider of worldwide seaborne transportat ...
Tuesday, 22 May 12
DRY BULK MARKET STEADY, AWAITING FURTHER RISE IN DEMAND WHICH IS DOUBTFUL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Traditionally, the second and third quarters of the year are the strongest for the dry bulk market, but this year, things seem to be quite subdued, ...
Sunday, 20 May 12
SPOT FREIGHT RATE DIPS FURTHER - VISTAAR
COALspot.com - The BDI was marginally up by 3 points (0.26 pct) closing at 1,141 points.
The cape index was up by 1.17 pct closing at 1,633 point ...
Saturday, 19 May 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS DROP US$ 2.88 PMT W-O-W
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for June deliveries have drops this week by 3.86 percent and& ...
Saturday, 19 May 12
INDONESIAN EXPORT TAX GIVES COAL MINERS A CHEAP RIDE: ANALYSTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s policy to exclude coal from an export tax that has been applied to 14 other mineral commodities h ...
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- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- The University of Queensland
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Australian Coal Association
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
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