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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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Saturday, 11 February 12
WILL HISTORY REPEAT ITSELF IN THIS SHIPPING CYCLE? - CLARKSONS / HELLENIC SHIPPING
A slightly dubious "best man" joke runs as follows… Best man (giving his wedding speech): "Have you noticed how history repeat ...
Friday, 10 February 12
TONNAGE KEEPS ON COMING - DREWRY
Drewry Maritime Research’s latest edition of its Dry Bulk Forecaster pulls no punches in its assessment of a market that looks certain to cont ...
Friday, 10 February 12
GIVE PERMIT POWERS TO GOVERNORS: MINERS - THE JAKARTA POST
The Jakarta Post reported that, following clashes between mining companies and local residents, the Indonesian Mining Association (IMA) wants to tra ...
Thursday, 09 February 12
AUSTRALIA'S EPIC TO ACQUIRE 15,500 HA COAL EXPLORATION LICENCES IN EAST KALIMANTAN, INDONESIA
COALspot.com - Epic Resources Limited to acquire two coal concessions in Kutai Barat regency, East Kalimantan, Indonesia.
According to company's ...
Thursday, 09 February 12
RESOURCE ALAM BUYS 28,521HA CONCESSIONS - INSIDER STORIES
Insider Stories reported that, PT Resource Alam Indonesia Tbk (KKGI), owned by Adijanto family, today announced acquisition of 75% interest in PT Ka ...
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- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Minerals Council of Australia
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- The University of Queensland
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- White Energy Company Limited
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
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