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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, 27 December 11
MINERS MAKE CASE FOR RESUMING CONTRACT NEGOTIATIONS - THE JAKARTA POST
The Jakarta Post reported that, problems with the renegotiation of mining contracts in the country are far from over, as agreements on several cruci ...
Tuesday, 27 December 11
COAL SHIPMENT OF TIANJIN PORT REACHED 6.72 MLN TONNES IN NOVEMBER - STEEL HOME / HELLENIC SHIPPING
Tianjin port shipped 6.72 million tonnes of coal in November, decreasing 600,000 tonnes versus 7.32 million tonnes in October, while up 21.09% or 1. ...
Tuesday, 27 December 11
NEW CLAUSE PUBLISHED FOR SLOW STEAMING - BIMCO
Many owners and operators faced with high bunker prices are considering implementing slow steaming regimes to save fuel and to assist with capacity ...
Monday, 26 December 11
NEW EXPORT TAX PLAN GREETED WITH PRAISE AND CRITICISM - THE JAKARTA POST
The Jakarta Post, one of the Indonesia's leading english news paper reported that, both praise and criticism showered the government’s plan t ...
Sunday, 25 December 11
THERMAL COAL PRICES GAINED UP TO 4.32 PERCENT
COALspot.com - globalCOAL index gained 4.32 percent to US$106.36 per ton in RBCT, benchmark for South Asia and West Europe markets, for the week end ...
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Showing 4911 to 4915 news of total 6871 |
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- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Planning Commission, India
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
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