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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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Sunday, 17 June 12
S7 & S8 ROUTES ARE LIKELY TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The BDI gained some increase after continues fall for several weeks.
The BDI increased by 47 points (up by 5.36 pct) closing at 92 ...
Saturday, 16 June 12
INDONESIAN SUB-BITUMINOUS COAL & CFR SOUTH CHINA COAL CONTRACT SWAPS ARE UNDER PRESSURE
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for July deliveries seems to be under pressure this week.&nbs ...
Friday, 15 June 12
CAPESIZE - THE LEVELS THAT DID FIX ARE DOWN W-O-W LEVELS - FEARNLEYS
Handy
Another slow-moving market with rates hovering at same level as last week. US Gulf positions fixed USD 25,000 for trips to Cont/Passero and S ...
Thursday, 14 June 12
SMALLER DRY BULK CARRIERS LIKELY TO FACE MORE CHALLENGES; DEMOLITION ACTIVITY SET FOR RECORD YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest update on the dry bulk markets, BIMCO said that China is partly “failing to deliver” on raw material imports that can affe ...
Wednesday, 13 June 12
LOW COAL PRICES COULD CHANGE SUPPLY SIDE DYNAMICS - FITCH RATINGS
Fitch Ratings believes that the weakness seen in thermal coal prices in recent months should reverse once demand from major importers recovers, alth ...
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- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Minerals Council of Australia
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- The University of Queensland
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- White Energy Company Limited
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
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