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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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Thursday, 22 March 12
ECI-CHINA HANDY RATES ARE AROUND US$ 8000 - FEARNLEYS
Handy
Another positive trend was seen last week with more cargoes entering the market. Skaw-Passero/US Gulf climbed slowly up to USD 3700, while US ...
Thursday, 22 March 12
DRY BULK MARKET KEEPS SURGING, CAPESIZES FALLING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what seems to be an establishing pattern, the dry bulk market has kept its upward momentum, edging closer to the 900 point-mark, but the larger s ...
Wednesday, 21 March 12
BUMA HAS PRODUCED 2.3 MILLION TONS OF COAL IN FEBRUARY 2012
COALspot.com - PT. Delta Dunia Makmur's overburden removal in February 2012 has reached totaled 23.8 million bcm (+2.4% YoY) while coal production ...
Tuesday, 20 March 12
SMALLER DRY BULK VESSELS STILL LEADING DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been growing during the past couple of weeks, but contrary to the usual practice, it’s not the larger Capesizes which ...
Monday, 19 March 12
WEEKLY DRY MARKET OVERVIEW: SMALLER VESSELS LEAD RATES HIGHER - MARIA BERTZELETOU, HELLENIC SHIPPING
The upward trend of the Baltic Dry Index persists strong from the end of February, spurred from the supramax market that offsets the weakness in the ...
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- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Australian Coal Association
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- The University of Queensland
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
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