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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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Friday, 20 April 12
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A rebound of demand for smaller dry bulk carriers has led the industry’s benchmark, the BDI (Baltic Dry Index) above the 1,000-point mark for ...
Friday, 20 April 12
BUMA HAS PRODUCED 2.6 MILLION TONS OF COAL IN MARCH 2012
COALspot.com - BUMA has removed 28.0 million bcm (+6.4% YoY) of overburden in March 2012 while coal production was at 2.6 million tons (+1.3% YoY).
...
Thursday, 19 April 12
FRESH COAL SALES FROM JATENERGYS JONGKANG MINES
COALspot.com - Energy company Jatenergy Ltd (ASX code JAT) announced today that it had signed a contract for an 11,000 tonne coal sale due for shipm ...
Thursday, 19 April 12
HANDY - 'POSITIVE TREND', PANAMAX - 'A FIRMER TENDENCY', CAPESIZE - 'AGAIN NEGATIVE'
Handy
The positive trend from last week continued, with more cargoes entering the market. Skaw/Passero del fixed tick above USD 4000 for US Gulf di ...
Thursday, 19 April 12
WILLIS MARINE MARKET REVIEW FORECASTS ANOTHER DIFFICULT YEAR - WILLIS GLOBAL MARINE / HELLENIC SHIPPING
After an inauspicious start, 2012 could well be "another difficult and uncertain year for the maritime industry faced with the aftermath of the ...
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- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- PTC India Limited - India
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Australian Coal Association
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Aditya Birla Group - India
- The University of Queensland
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
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