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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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Wednesday, 04 January 12
NEWBUILDING ORDERS PICKED UP IN 2011, BUT 2012 EXPECTED TO BE A DIFFERENT STORY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the BDI (Baltic Dry Index) starting the year on a sour note, losing 114 points and ending yesterday’s session, the first of the new year, ...
Wednesday, 04 January 12
MAHAGENCO TO IMPORT LOW MOISTURE COAL
COALspot.com - Maharashtra State Power Generation Co. Ltd. is the state power generation utility owned by Government of Maharashtra, intends to proc ...
Tuesday, 03 January 12
INDONESIA COAL REFERENCE PRICE FELL AGAIN
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the January 2012 coal reference price at US$ 109.29 per ton or US$ 3.3 ...
Tuesday, 03 January 12
WHICH WAY WILL THE DRY BULK MARKET HEAD ON FIRST WEEK OF THE YEAR? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Dry bulk ship owners will be wondering which way will the BDI (Baltic Dry Index), the industry’s benchmark, will head during the first days of ...
Monday, 02 January 12
THE PROMISE OF INDIA: A BRIEF INTERRUPTION? - CLARKSONS / HELLENIC SHIPPING
Future growth in Indian seaborne coal imports has sometimes been considered as one of the largest potential upsides in the currently oversupplied dr ...
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- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Economic Council, Georgia
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Planning Commission, India
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- White Energy Company Limited
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
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