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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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Wednesday, 16 November 11
A STRONG WEEK FOR THE CAPES - BRS
A sharp bounce by the Cape market pushed the BDI up by 3% last week. This was despite a softening in the other indices with the Panamax, Supramax an ...
Monday, 14 November 11
BORL SEEKS 660K MT OF LOW SULPHUR COAL
COALspot.com - BORL India has issued a tender for around 660,000 MT of 4500 - 5500 kcal/kg sub-bituminous Coal.
Bharat Oman Refineries Ltd ...
Sunday, 13 November 11
BUNKER PRICES REMAINED FIRM
COALspot.com - The market seemed to recover this week with the BDI and Cape Index up.
The BDI was up by only about 2.86 pct closing at 1835 point ...
Saturday, 12 November 11
COALINDO ENERGY LAUNCHED INDEX FOR 3400 GAR COAL
COALspot.com - PT Coalindo Energy, in cooperation with Argus Media Limited, launched the coal index for low-rank coal with a calorific value of 3,40 ...
Saturday, 12 November 11
BBJ WILL RELEASE A COAL CONTRACT
Jakarta Futures Exchange will soon release a coal futures contracts during the quarter 1 / 2012.
Director of the Jakarta Futures Exchange (BBJ) S ...
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- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Planning Commission, India
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- MS Steel International - UAE
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- The University of Queensland
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
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