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