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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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Thursday, 08 December 11
HAREDA KRIDA GETS CONTRACT FROM BAYAN - INSIDER STORIES
Insider Stories reported that, coal miner PT Bayan Resources Tbk (BYAN), through its subsidiary dubbed PT Gunungbayan Pratamacoal (GPB), has signed ...
Thursday, 08 December 11
CAPESIZES LIFT DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize vessels yesterday helped lift the dry bulk market which had been falling since the start of the week on lower cargo demand. As a result the ...
Wednesday, 07 December 11
ABM INVESTAMA EYES RP6.3 TRIO REVENUE - INSIDER STORIES
Insider Stories reported that, an energy integrated company PT ABM Investama Tbk is eyeing a 1.5 folds increase in revenue this year from Rp4. ...
Tuesday, 06 December 11
DRY BULK MARKET ENDS RALLY, STARTS WEEK WITH FALL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a series of increases which saw the dry bulk market’s benchmark, the Baltic Dry Index (BDI) increasing close to 1,900 points and rates o ...
Monday, 05 December 11
THE DECEMBER HBA FELL 11% FROM ITS PEAK AT US$127.05 PER TON IN FEBRUARY 2011
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the December 2011 coal reference price at US$ 112.67 per ton US$ 3.98 ...
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- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- ASAPP Information Group - India
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
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