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