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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, 06 April 12
DRY BULK MARKET SWIFT TO HALT FALL ON RENEWED DEMAND FOR CAPESIZES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk managed to put a stop to the recent falls, which came as a result of a lacklustre demand for smaller vessel sizes. Although this trend ...
Thursday, 05 April 12
COAL EXPORT TAX: MATTER OF CONCERN FOR INDIA - SUNIL K KUMBHAT
COALspot.com - Since the issuance of Indonesian Mining law in 2009, miners have increased their activities in exploring , ex ...
Thursday, 05 April 12
AKR COAL FIRST EXPORT SHIPMENT OF COAL SEABORNE
PT Anugrah Karya Raya (AKR Coal) subsidiary of PT AKR Corporindo Tbk., Indonesia’s leading integrated supply chain solutions provider and larg ...
Thursday, 05 April 12
DRY BULK MARKET STALLS AS TREND IS REVERSED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has halted its month-long rally, with the BDI (Baltic Dry Index) retreating yesterday for a second consecutive session. Industry ...
Wednesday, 04 April 12
OIL MAY JUMP TO $150PB IF IRAN ATTACKED: EXPERT - KUNA / HELLENIC SHIPPING
Prices of oil will not drop below level of $100 per barrel and may jump to $150 pb in the coming two months, according to the prominent Kuwaiti expe ...
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- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- The University of Queensland
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- MS Steel International - UAE
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
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