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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, 01 December 11
DRY BULK MARKET RISES TO NEW HEIGHTS ON RENEWED DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept on rising this week, with the industry’s benchmark, the Baltic Dry Index (BDI) climbing to 1,846 points on Wednes ...
Tuesday, 29 November 11
SOUTH AFRICAN COAL INTO CHINA, THE ACTIVITY WAS SLOW - BRS
Capesize
The Capesize market in Atlantic stayed pretty firm last week with transatlantic rounds being fixed in the high twenties. Sentiment was les ...
Tuesday, 29 November 11
GOLDEN GATE BRIDGE OF INDONESIA COLLAPSED AT KUKAR, EAST KALIMANTAN
COALspot.com - A suspension bridge in Indonesia’s east Kalimantan province over the Mahakam river collapsed on Saturday, killing at least elev ...
Tuesday, 29 November 11
BUKIT ASAM SCOUTS RP3 TRILLION PROFIT - INSIDER STORIES
The state-controlled coal miner PT Bukit Asam Tbk (PTBA) expects to post a Rp3 trillion net income this year, reaching its target which is 50% above ...
Tuesday, 29 November 11
DRY BULK MARKET BEGINS WEEK ON HIGHER NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Contrary to what had been the case during the past few weeks, this one began on a high note for the dry bulk market, with the Capesize sector pullin ...
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- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Australian Coal Association
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
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