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