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