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