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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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Sunday, 15 January 12
THE FREIGHT MARKET CONTINUED TO BLEED - VISTAAR
COALspot.com - "The markets continued to bleed with BDI touching almost 1000 points , almost reaching the collapse of 2008 levels," said C ...
Saturday, 14 January 12
GOLDEN MINES TO SUPPLY 4 MIO TONS - INSIDER STORIES
Insider Stories reported that, Coal miner under Sinarmas Group PT Golden Energy Mines Tbk (GEMS), a subsidiary of PT Dian Swastatika Sentosa Tbk (DS ...
Friday, 13 January 12
DIFFICULT START OF 2012 FOR DRY BULK MARKET SEEN HARD TO CHANGE IN THE COURSE OF THE YEAR, UNLESS DEMOLITION PICKS UP
The dry bulk market has been on a freefall this week after a rocky start to the new year. Yesterday, the BDI (Baltic Dry Index) the industry's benc ...
Thursday, 12 January 12
DRY BULK MARKET CRASHING AT START OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept being on freefall mode yesterday, with the industry's benchmark, the BDI (Baltic Dry Index) losing a massive 5.17% on ...
Wednesday, 11 January 12
NEWBUILDING ORDERS DECLINE, AS SHIP OWNERS REALIZE OVERSUPPLY WILL "KILL" THEM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With 2012 now underway, it will be rather interesting to see how ship owners will play the "newbuilding ordering" card to their favor, as ...
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- Agrawal Coal Company - India
- White Energy Company Limited
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Planning Commission, India
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Economic Council, Georgia
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
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