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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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Friday, 18 November 11
MMTC SEEKS 1.365 MMT OF IMPORTED COAL
COALspot.com - India's MMTC, the largest trading company of India and a major trading company of Asia, has issued a term supply tender for 1.365Mt ...
Friday, 18 November 11
KPC, ARUTMIN OUTPUT REACHED 47.1 MIO TONS - INSIDER STORIES
PT Kaltim Prima Coal (KPC) and PT Arutmin Indonesia, reported 47.1 million tons of coal production in 9M 2011, according to Indiser Stories.
Insi ...
Friday, 18 November 11
THE ATLANTIC SUPRAMAX MARKET EXPERIENCED A STEADY AND FIRM TENDENCY
Handy
The Atlantic Supramax market experienced a steady and firm tendency this week. Especially the North Atlantic and Mediterranean position ...
Friday, 18 November 11
BERAU COAL 9M PROFIT SOARS 194.46% - INSIDER STORIES
Insider Stories reported that, PT Berau Coal Energy Tbk (BRAU), which is 84.7% owned by Bumi Plc, reported a 194.46% jump in net profit by end of Se ...
Thursday, 17 November 11
DRY BULK MARKET INCHES FORWARD AND INTO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market edged higher yesterday, on the back of stronger demand for Capesize vessels and general improvement of sentiment on most of the ...
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- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- PTC India Limited - India
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- The University of Queensland
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
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