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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, 30 March 12
RECOND NUMBERS SURROUNDING THE SUPRAMAX DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Last year proved to be both a record year in the number of deliveries of dry bulkers between 40,000dwt and 64,000dwt, as well as a record year in th ...
Thursday, 29 March 12
DRY BULK EDGED FURTHER UP, ON HEALTHY DEMAND FOR MOST SHIP TYPES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With capesize vessels finally reappearing in demand, the dry bulk market had an easier task of rising yesterday, as the BDI (Baltic Dry Index) reach ...
Thursday, 29 March 12
ADARO FY11 NET INCOME JUMPS 124% - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk (ADRO) today announced a 124% jump in net income to US$552 million last year or US$0.017 a share. ...
Wednesday, 28 March 12
CUESTA HAS RECEIVED APPLICATIONS AND FIRM BIDS IN EXCESS OF $9 MILLION FOR THE COMPANYS IPO
COALspot.com - The Directors of Cuesta Coal Limited (ASX:CQC) have announced that today it has received applications and firm bids in excess of $9 m ...
Wednesday, 28 March 12
ORPHEUS ENERGY TO COMMENCE JORC DRILLING AT ADK PROJECT
COALspot.com - Indonesian coal explorer and producer, Orpheus Energy (ASX:OEG), have today announced that the company is about to commence a drillin ...
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- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- PTC India Limited - India
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Australian Coal Association
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
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