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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, 17 December 11
THE FREIGHT MARKET SEEMS TO HAVE ALMOST BOTTOMED OUT AND MAY REMAIN STEADY AT THESE LEVELS CAPT REDDY
COALspot.com - The BDI and Cape index closed lower this week with BDI closing at 1,888 points (down by 1.76 pct) and Cape index at 3,572 points (dow ...
Friday, 16 December 11
DRY BULK MARKET LOSES TRACK ON CAPESIZE LOSSES, SHIP FINANCING REMAINS TROUBLESOME - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market didn’t manage to sustain earlier gains, losing track yesterday, on reduced Capesize demand and persisting troubles in smal ...
Thursday, 15 December 11
BERAU SEES INDIA AS POTENTIAL MARKET FOR LOW-CALORIE COAL - THE JAKARTA POST
The Jakarta Post reported that, Publicly listed coal mining company PT Berau Coal Energy (BRAU), the fifth largest coal producer in Indonesia, sees ...
Thursday, 15 December 11
PANAMAX HARDLY AFFECTED BY THE RECENT FIRMER TENDENCY FOR THE BIG SISTERS - FEARNBULK
Handy
The rates are more or less the same as last week. Continent/US Gulf fixing at tick below USD 10k and Gulf/Continent levels at USD 25k. Trips ...
Thursday, 15 December 11
DRY BULK RATES TO REMAIN AT CURRENT LEVELS FOR THE MOST PART IN THE COMING MONTHS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest research note, BIMCO said that the Capesize Time Charter Average will remain at USD 20,000-30,000 per day but the tonnage oversupply w ...
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Showing 4926 to 4930 news of total 6871 |
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- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- The University of Queensland
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- PTC India Limited - India
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Planning Commission, India
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
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