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