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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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Saturday, 07 January 12
COAL MARKETS SEE FALLING SPOT PRICES
COALspot.com – World’s thermal coal spot prices have slipped this week..
globalCOAL index in Newcastle Port, benchmark for Asian mark ...
Friday, 06 January 12
COAL INDIA LINKED COAL PRICES WITH INTERNATIONAL COAL PRICES
COALspot.com - Consumers of indigenous coal in India to pay International prices in the future. Coal India has recently moved from UHV pricing mecha ...
Friday, 06 January 12
CLARIDEN GLOBAL BRINGS YOU INDONESIA MINING 2012
Capitalizing Business & Investment Opportunities in an Uncertain Market.Press Release - Clariden Global brings you Indonesia Mining 2012, the dedi ...
Friday, 06 January 12
THE PANAMAX MARKET EXPERIENCED A SLOW START TO 2012 - FEARNLEYS AS
Handy
As usual after a holiday owners and charterers both try to get a feel of the market. An Armada of Supras were talking to ballast towards USG, ...
Thursday, 05 January 12
DRY BULK MARKET TAKES A PLUNGE OF LOW ACTIVITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected the first days of the new year are characterized by significantly low chartering across the board of the dry bulk market, pus ...
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- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
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