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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, 10 January 12
THE 4TH DEEPWATER ASIA CONGRESS 2012 WILL KICK OFF ON MAY 23 - 25
Press release - Based on the past three years’ success, SZ & W Group is excited to announce the 4th Deepwater Asia Congress will be held o ...
Monday, 09 January 12
2012: WHAT WILL IT BRING FOR THE DRY BULK MARKET? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A further increase in dry bulk demand could be the remedy for most of the industry's oversupply issues, together of course with the high level of s ...
Sunday, 08 January 12
ICICI OUTLOOK ON INDIAN POWER, MINING,CEMENT, AND SHIPPING SECTORS PERFORMANCE IN 2012
Broking firm, ICICIdirect (India) has come out with report on sectors outlook for 2012. IRIS has collated key highlights for each sector from ...
Sunday, 08 January 12
SUPRAMAX DELIVERY SOUTH CHINA FOR TRIPS VIA INDONESIA WERE REPORTED AROUND $ 7000 PER DAY - VISTAAR
Wish You a Very Happy and Prosperous New year 2012.
COALspot.com - The last report by us was on 16th Dec 2011 and because of holidays this would ...
Sunday, 08 January 12
THARPAK CONSORTIUM FORMED TO DEVELOP MEGA ENERGY COMPLEX IN SINDH PROVINCE, PAKISTAN
Press Release: On January 5th, TharPak, LLC met with officials of the Embassy of Pakistan in Washington DC to introduce and announce the formation o ...
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- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Economic Council, Georgia
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- The University of Queensland
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
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