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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, 30 March 12
RECOND NUMBERS SURROUNDING THE SUPRAMAX DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Last year proved to be both a record year in the number of deliveries of dry bulkers between 40,000dwt and 64,000dwt, as well as a record year in th ...
Thursday, 29 March 12
DRY BULK EDGED FURTHER UP, ON HEALTHY DEMAND FOR MOST SHIP TYPES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With capesize vessels finally reappearing in demand, the dry bulk market had an easier task of rising yesterday, as the BDI (Baltic Dry Index) reach ...
Thursday, 29 March 12
ADARO FY11 NET INCOME JUMPS 124% - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk (ADRO) today announced a 124% jump in net income to US$552 million last year or US$0.017 a share. ...
Wednesday, 28 March 12
CUESTA HAS RECEIVED APPLICATIONS AND FIRM BIDS IN EXCESS OF $9 MILLION FOR THE COMPANYS IPO
COALspot.com - The Directors of Cuesta Coal Limited (ASX:CQC) have announced that today it has received applications and firm bids in excess of $9 m ...
Wednesday, 28 March 12
ORPHEUS ENERGY TO COMMENCE JORC DRILLING AT ADK PROJECT
COALspot.com - Indonesian coal explorer and producer, Orpheus Energy (ASX:OEG), have today announced that the company is about to commence a drillin ...
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- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- White Energy Company Limited
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
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