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