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