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