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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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Thursday, 22 March 12
ECI-CHINA HANDY RATES ARE AROUND US$ 8000 - FEARNLEYS
Handy
Another positive trend was seen last week with more cargoes entering the market. Skaw-Passero/US Gulf climbed slowly up to USD 3700, while US ...
Thursday, 22 March 12
DRY BULK MARKET KEEPS SURGING, CAPESIZES FALLING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what seems to be an establishing pattern, the dry bulk market has kept its upward momentum, edging closer to the 900 point-mark, but the larger s ...
Wednesday, 21 March 12
BUMA HAS PRODUCED 2.3 MILLION TONS OF COAL IN FEBRUARY 2012
COALspot.com - PT. Delta Dunia Makmur's overburden removal in February 2012 has reached totaled 23.8 million bcm (+2.4% YoY) while coal production ...
Tuesday, 20 March 12
SMALLER DRY BULK VESSELS STILL LEADING DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been growing during the past couple of weeks, but contrary to the usual practice, it’s not the larger Capesizes which ...
Monday, 19 March 12
WEEKLY DRY MARKET OVERVIEW: SMALLER VESSELS LEAD RATES HIGHER - MARIA BERTZELETOU, HELLENIC SHIPPING
The upward trend of the Baltic Dry Index persists strong from the end of February, spurred from the supramax market that offsets the weakness in the ...
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- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- PTC India Limited - India
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
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