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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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Monday, 05 December 11
SGX LAUNCHED IHS MCCLOSKEY/XINHUA INFOLINK OTC CFR SOUTH CHINA COAL CONTRACT TODAY
COALspot.com - In order to meet the demand of the coal industry for an effective coal hedging tool with counterparty credit risk mitigation facility ...
Monday, 05 December 11
DRY BULK RATES LOOKING TO EXTEND GAINS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize dry bulk carrier owners have had a great week, with rates rising for six straight sessions (including the end of the week before that). As ...
Sunday, 04 December 11
SUPRAMAX TRIPS VIA INDONESIA WERE REPORTED AROUND $ 7500 - 8000 PD
COALspot.com - The BDI and Cape index recovered this week. The BDI was up by 3.26 pct and Cape index saw a big jump and closed at 3409 points (up by ...
Saturday, 03 December 11
BORNEO TO SPEND US$600 MIO CAPEX - INSIDER STORIES
Insider Stories reported that, Coking coal miner PT Borneo Lumbung Energi & Metal Tbk (BORN) plans to spend US$600 million capital expenditure ( ...
Friday, 02 December 11
DRY BULK CARRIERS BACK IN THE SPOTLIGHT AS MARKET SPEEDS UP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the tanker and container markets suffering dearly, it seems that the tide has once again turned in favor of the dry bulk carriers, despite over ...
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- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Central Electricity Authority - India
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- The University of Queensland
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- ASAPP Information Group - India
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