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