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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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Wednesday, 11 April 12
TWO PERCENT OF IBP CONCESSION CONTAINS 42 MMT OF COAL
COALspot.com - 42.35 million ton of coal found in just 2% of PT Insani Bara Perkasa’s total concession area of 24,477 hectare.
Accord ...
Wednesday, 11 April 12
DRY BULK MARKET STILL SUBDUED, RECOVERY NOT YET SEEN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market entered the new week after the past days of easter holidays in western countries in a subdued mood. The industry’s benchma ...
Monday, 09 April 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first week of April ended with the Baltic Dry Index falling below 950 points, before Catholic Easter, and capesizes showing a modest upturn with ...
Sunday, 08 April 12
CHARTER RATES COULD CONTINUE TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The BDI was almost at same levels closing slightly lower by 0.64 pct at 928 points.
The Cape index was up by 6.73 pct closing at ...
Friday, 06 April 12
INDONESIAN HBA FALL TO LOWEST LEVEL SINCE JANUARY 2011
COALspot.com - Indonesian HBA fall to lowest level since January 2011 this month. The monthly coal reference price for coal sales in April fal ...
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- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- PTC India Limited - India
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
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