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