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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, 20 April 12
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A rebound of demand for smaller dry bulk carriers has led the industry’s benchmark, the BDI (Baltic Dry Index) above the 1,000-point mark for ...
Friday, 20 April 12
BUMA HAS PRODUCED 2.6 MILLION TONS OF COAL IN MARCH 2012
COALspot.com - BUMA has removed 28.0 million bcm (+6.4% YoY) of overburden in March 2012 while coal production was at 2.6 million tons (+1.3% YoY).
...
Thursday, 19 April 12
FRESH COAL SALES FROM JATENERGYS JONGKANG MINES
COALspot.com - Energy company Jatenergy Ltd (ASX code JAT) announced today that it had signed a contract for an 11,000 tonne coal sale due for shipm ...
Thursday, 19 April 12
HANDY - 'POSITIVE TREND', PANAMAX - 'A FIRMER TENDENCY', CAPESIZE - 'AGAIN NEGATIVE'
Handy
The positive trend from last week continued, with more cargoes entering the market. Skaw/Passero del fixed tick above USD 4000 for US Gulf di ...
Thursday, 19 April 12
WILLIS MARINE MARKET REVIEW FORECASTS ANOTHER DIFFICULT YEAR - WILLIS GLOBAL MARINE / HELLENIC SHIPPING
After an inauspicious start, 2012 could well be "another difficult and uncertain year for the maritime industry faced with the aftermath of the ...
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- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- White Energy Company Limited
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
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