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