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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, 15 February 12
HBA FOR FEB 2012, CLIMBS 2.09 PERCENT AND REACHED US$ 111.58 PER TON
COALspot.com - The Indonesian coal reference price for February climbs 2.09 percent to US$111.58 per ton after losing past three months. ...
Monday, 13 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The current sentiment in the dry market resembles memories from the end of 2008, when the Baltic Dry Index closed at the level of 663 points on Dece ...
Sunday, 12 February 12
INDONESIA HAS ISSUED A REGULATION TO BAN THE EXPORT OF UNPROCESSED MINERALS AND METALS BY 2014
COALspot.com - The Indonesian government has finally issued a ministerial decree (7 Year 2012 dated 6 February 2012) to ban the export of unpro ...
Sunday, 12 February 12
THE BALTIC DRY INDEX CLIMBS 10.51%
COALspot.com - "The markets touched record lows not seen since mid 80’s. However there was some good news with signs of market recovery a ...
Saturday, 11 February 12
A SNAPSHOT ON THE ECONOMIC AND SHIPPING ENVIRONMENT - GOLDEN DESTINY
The week was highlighted with intense worries in the eurozone for Greece to secure its second bailout of $130billion by applying a ...
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- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- GMR Energy Limited - India
- Australian Coal Association
- Energy Development Corp, Philippines
- The University of Queensland
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
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