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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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Tuesday, 07 February 12
DRY BULK MARKET FINALLY STOPS DECLINE, POSTS FIRST RISE IN MORE THAN A MONTH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After falling to near record lows, not seen since the mid-80s the dry bulk market has finally stopped its path to "hell", with the industr ...
Saturday, 04 February 12
SUPRAMAX DELIVERY SOUTH CHINA FOR TRIPS VIA INDONESIA WERE REPORTED AROUND $ 6,000 PER DAY - VISTAAR
COALspot.com - The markets continued to soften which dropped by almost 11 pct and BDI closing at 647 points.
The drop in BDI was mainly due to dr ...
Thursday, 02 February 12
NO RELIEF YET FOR DRY BULK SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although at the start of 2012 nobody can claim that the global seaborne trade has suddenly come to a halt, quite the contrary, it seems that the dry ...
Wednesday, 01 February 12
KRISHNAPATNAM PORT - GOING DEEP TO SOAR HIGH
COALspot.com - Krishnapatnam Port now rightfully claims as the deepest draft port in India, as it has started accepting vessels with maximum permiss ...
Wednesday, 01 February 12
IN JAMBI, MOST MINING COMPANIES LACK 'CLEAR-AND-CLEAN' PERMITS - JP
More than three-quarters of the 386 mining companies in Jambi lack “clear-and-clean” certifications from the government, according to an ...
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- White Energy Company Limited
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
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