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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, 06 April 12
DRY BULK MARKET SWIFT TO HALT FALL ON RENEWED DEMAND FOR CAPESIZES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk managed to put a stop to the recent falls, which came as a result of a lacklustre demand for smaller vessel sizes. Although this trend ...
Thursday, 05 April 12
COAL EXPORT TAX: MATTER OF CONCERN FOR INDIA - SUNIL K KUMBHAT
COALspot.com - Since the issuance of Indonesian Mining law in 2009, miners have increased their activities in exploring , ex ...
Thursday, 05 April 12
AKR COAL FIRST EXPORT SHIPMENT OF COAL SEABORNE
PT Anugrah Karya Raya (AKR Coal) subsidiary of PT AKR Corporindo Tbk., Indonesia’s leading integrated supply chain solutions provider and larg ...
Thursday, 05 April 12
DRY BULK MARKET STALLS AS TREND IS REVERSED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has halted its month-long rally, with the BDI (Baltic Dry Index) retreating yesterday for a second consecutive session. Industry ...
Wednesday, 04 April 12
OIL MAY JUMP TO $150PB IF IRAN ATTACKED: EXPERT - KUNA / HELLENIC SHIPPING
Prices of oil will not drop below level of $100 per barrel and may jump to $150 pb in the coming two months, according to the prominent Kuwaiti expe ...
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- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Parliament of New Zealand
- PTC India Limited - India
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Australian Coal Association
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
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