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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, 15 May 12
POTENTIAL BOOM OF CHINAS COAL IMPORTS COULD PROVIDE FURTHER SUPPORT TO DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been moving sideways during the past week with the industry’s benchmark, the Baltic Dry Index (BDI) losing 0.53% on th ...
Saturday, 12 May 12
THE SHIPPING MARKET IS UNLIKELY TO SEE A REBOUND ANYTIME SOON - VISTAAR SINGAPORE
COALspot.com - The BDI softened this week and it was down by 1.64 pct closing at 1,138 points.
The cape index was up by 2.41 pct closing at 1,61 ...
Friday, 11 May 12
POLITICAL CHANGES COULD LEAD TO TEMPORARY HALT IN SHIPPING INVESTMENTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The potential of changes of political leadership in many of the world’s leading economies could very well lead to significant shifts in the di ...
Thursday, 10 May 12
DRY BULK ERRATIC ON LACK OF DIRECTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept up its erratic behavior as it went down again during yesterday’s session, on a lack of direct guidance in terms o ...
Wednesday, 09 May 12
COAL INDIA SIGNS FSAS WITH 13 POWER UNITS SO FAR - PTI
Press Trust of India has reported that, coal India has so far entered into fuel supply pacts with 13 power units, including Reliance Power's Rosa P ...
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- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- The University of Queensland
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
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