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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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Monday, 27 February 12
INDONESIAN COAL EXPORTS TO CHINA DROPS 39.76 PERCENT IN JANUARY 2012
COALspot.com: Indonesia, the world largest coal exporter, shipped 28.21* mln mt of coal in January 2012, slightly lower than its December 2011 ...
Monday, 27 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The pessimism in the dry market persists with the Baltic Dry Index still trying to find a steady pace of growth and average time charter earnings fo ...
Sunday, 26 February 12
THE FREIGHT RATES FOR INDONESIA TO INDIA IS LIKELY TO BE FIRM FOR NEXT 2/3 WEEKS - VISTAAR
COALspot.com – “There was not much change in the BDI and other indices this week except for the Panamax which was down by 11.91 pc ...
Friday, 24 February 12
DRY BULK MARKET POSTS FIRST REBOUND IN A WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was expected since mid-week, the dry bulk market's benchmark, the BDI (Baltic Dry Index) has managed to put a stop in a 6-day losing rally, endi ...
Thursday, 23 February 12
2.5 PANAMAX VESSELS PER AVAILABLE CARGO FOR MARCH DATES - FEARN BULK
Handy
Another depressing week for Supras in both basins. Lack of fresh business and over-supply of tonnage in the Atlantic pushed rates south. Cont ...
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- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- The University of Queensland
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
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