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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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Showing 4761 to 4765 news of total 6871 |
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- PTC India Limited - India
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- The University of Queensland
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
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