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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, 08 May 12
DRY BULK MARKET LOOKING FOR NEW DIRECTION THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the BDI (Baltic Dry Index) the main benchmark of the dry bulk shipping industry not traded at the start of this week, traders, charterers and s ...
Monday, 07 May 12
INDONESIAN HBA FALL AGAIN IN MAY 2012
COALspot.com - Indonesian HBA fall again to lowest level since January 2011 in May 2012. The monthly coal reference price for coal sales in Ma ...
Sunday, 06 May 12
INDONESIAN SUB-BITUMINOUS COAL & CFR SOUTH CHINA SWAPS SLIGHTLY DROP THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for June deliveries slightly dropped this week.
According ...
Sunday, 06 May 12
S7 & S8 ROUTES LIKELY TO BE FIRM NEXT WEEK VISTAAR SINGAPORE
COALspot.com - The BDI remained flat this week and was up just by 1 point closing at 1,157 points.
The cape size index was up by 5.14 pct closing ...
Sunday, 06 May 12
EXPORT DUTY ON MINERAL FINALLY TO BECOME EFFECTIVE NEXT WEEK
COALspot.com - Mineral ore exporters of Indonesia ( only IUP holders) are required to obtain recommendation letter from the energy and mineral ...
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- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- The University of Queensland
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Planning Commission, India
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
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