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