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