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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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- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Australian Coal Association
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
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