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