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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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Friday, 04 May 12
DEMOLITION KEY FOR DRY BULK MARKET RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The overflow of newbuilding vessels which “spilled over” into 2012 from 2011 brought the dry bulk market to a near collapse level at the ...
Thursday, 03 May 12
DRY BULK MARKET REMAINS INACTIVE, POSTING MILD DECREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept retreating this week, although at a very low pace, on the back of a lull in demand. The industry's benchmark, th ...
Thursday, 03 May 12
MINERS DEMAND LEGAL CERTAINTY ON PRE-BAN INTERIM POLICY - THE JAKARTA POST
The Jakarta Post reported that, Mining companies represented by the Indonesian Mining Association (IMA) welcomed the government’s plan to impo ...
Thursday, 03 May 12
HANDY EAST COAST INDIA - CHINA AROUND USD 7000 - FEARNLEYS AS
Handy - Stable demand in the Atlantic offered good rates for the tonnage.
USG/Cont was worth USD 17500 and more. Baltic and Black Sea appeared to ...
Wednesday, 02 May 12
CHINA BLACKOUTS HIGHLIGHT PRICING POLICY WEAKNESS - FITCH
Fitch reported that, the likelihood of further electricity blackouts in China this summer underlines Fitch's view of the basic problem f ...
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- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Australian Coal Association
- The University of Queensland
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
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