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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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Tuesday, 07 February 12
DRY BULK MARKET FINALLY STOPS DECLINE, POSTS FIRST RISE IN MORE THAN A MONTH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After falling to near record lows, not seen since the mid-80s the dry bulk market has finally stopped its path to "hell", with the industr ...
Saturday, 04 February 12
SUPRAMAX DELIVERY SOUTH CHINA FOR TRIPS VIA INDONESIA WERE REPORTED AROUND $ 6,000 PER DAY - VISTAAR
COALspot.com - The markets continued to soften which dropped by almost 11 pct and BDI closing at 647 points.
The drop in BDI was mainly due to dr ...
Thursday, 02 February 12
NO RELIEF YET FOR DRY BULK SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although at the start of 2012 nobody can claim that the global seaborne trade has suddenly come to a halt, quite the contrary, it seems that the dry ...
Wednesday, 01 February 12
KRISHNAPATNAM PORT - GOING DEEP TO SOAR HIGH
COALspot.com - Krishnapatnam Port now rightfully claims as the deepest draft port in India, as it has started accepting vessels with maximum permiss ...
Wednesday, 01 February 12
IN JAMBI, MOST MINING COMPANIES LACK 'CLEAR-AND-CLEAN' PERMITS - JP
More than three-quarters of the 386 mining companies in Jambi lack “clear-and-clean” certifications from the government, according to an ...
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- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- The University of Queensland
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
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