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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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Monday, 07 November 11
CHINA'S COAL IMPORTS STEAM AHEAD
Chinese seaborne coal imports have grown greatly in recent years, up from 39.2mt in 2008 to 167.7mt in 2010, with the result that China became a net ...
Saturday, 05 November 11
DEMAND SLUMP THREATENS MORE PAIN FOR BULK VESSELS - VISTAAR
COALspot.com - The market continued to fall with BDI dropping below 2,000 points by around 10 pct and closing at 1817 points. The cape index also co ...
Saturday, 05 November 11
BERAU STARTS TO EXPLORE BINUNGAN SITE - INSIDER STORIES
Insider Stories reported that, coal miner PT Berau Coal, a 90% owned subsidiary of PT Berau Coal Energy Tbk (BRAU), is busy to hold exploration in B ...
Friday, 04 November 11
INDIAN IRON ORE MARKET REMAINS DEAD - FEARNLEYS
Handy
The Atlantic market kept its strong position from last week. Even with fewer fixtures reported. Fronthauls still around 25k, wit ...
Thursday, 03 November 11
DRY BULK MARKET OFFICIALLY IN THE RED ON LOWER CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept falling yesterday, on lower iron ore demand, which has caused the industry’s benchmark, the BDI (Baltic Dry Index) to ...
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- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- The University of Queensland
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
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