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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, 04 April 12
CHURCHILL MINING TO ACCELERATE INTERNATIONAL ARBITRATION AGAINST INDONESIA
Churchill Mining plc (AIM: CHL), advises that notations on the Indonesian Supreme Court's register of cases shows the Supreme Court has rejected th ...
Monday, 02 April 12
BANGLADESH EYEING INDONESIA FOR COAL
COALspot.com - The high level executives of Center for Environmental and Geographic Information Services (CEGIS) of Bangladesh is visiting Ind ...
Monday, 02 April 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first quarter of the New Year ended with the BDI standing 42% above from the 26 years’ bottom low of 662 points on February 1st, and a pos ...
Saturday, 31 March 12
THE BDI CONTINUED TO MOVE UPWARD - VISTAAR
COALspot.com - The BDI continued to move upward and rose by 2.86 pct closing at 934 points.
The cape index was up by 3.14 pct closing at 1,412 po ...
Saturday, 31 March 12
SRI LANKA IMPORTS 152,555 MT OF INDONESIAN COAL IN FEBRUARY
COALspot.com: Indonesia, the world largest coal exporter, shipped 27.126* million tons of coal in February 2012, compared to 28.21* million to ...
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- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- The University of Queensland
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
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