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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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Tuesday, 22 May 12
NEW ONE-YEAR TIME CHARTERS FOR TWO VESSELS OF EXCEL MARITIME CARRIERS LTD.
Excel Maritime Carriers Ltd. (NYSE: EXM), an owner and operator of dry bulk carriers and an international provider of worldwide seaborne transportat ...
Tuesday, 22 May 12
DRY BULK MARKET STEADY, AWAITING FURTHER RISE IN DEMAND WHICH IS DOUBTFUL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Traditionally, the second and third quarters of the year are the strongest for the dry bulk market, but this year, things seem to be quite subdued, ...
Sunday, 20 May 12
SPOT FREIGHT RATE DIPS FURTHER - VISTAAR
COALspot.com - The BDI was marginally up by 3 points (0.26 pct) closing at 1,141 points.
The cape index was up by 1.17 pct closing at 1,633 point ...
Saturday, 19 May 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS DROP US$ 2.88 PMT W-O-W
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for June deliveries have drops this week by 3.86 percent and& ...
Saturday, 19 May 12
INDONESIAN EXPORT TAX GIVES COAL MINERS A CHEAP RIDE: ANALYSTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s policy to exclude coal from an export tax that has been applied to 14 other mineral commodities h ...
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- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- The University of Queensland
- Planning Commission, India
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- White Energy Company Limited
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Australian Coal Association
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
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