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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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Sunday, 15 January 12
THE FREIGHT MARKET CONTINUED TO BLEED - VISTAAR
COALspot.com - "The markets continued to bleed with BDI touching almost 1000 points , almost reaching the collapse of 2008 levels," said C ...
Saturday, 14 January 12
GOLDEN MINES TO SUPPLY 4 MIO TONS - INSIDER STORIES
Insider Stories reported that, Coal miner under Sinarmas Group PT Golden Energy Mines Tbk (GEMS), a subsidiary of PT Dian Swastatika Sentosa Tbk (DS ...
Friday, 13 January 12
DIFFICULT START OF 2012 FOR DRY BULK MARKET SEEN HARD TO CHANGE IN THE COURSE OF THE YEAR, UNLESS DEMOLITION PICKS UP
The dry bulk market has been on a freefall this week after a rocky start to the new year. Yesterday, the BDI (Baltic Dry Index) the industry's benc ...
Thursday, 12 January 12
DRY BULK MARKET CRASHING AT START OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept being on freefall mode yesterday, with the industry's benchmark, the BDI (Baltic Dry Index) losing a massive 5.17% on ...
Wednesday, 11 January 12
NEWBUILDING ORDERS DECLINE, AS SHIP OWNERS REALIZE OVERSUPPLY WILL "KILL" THEM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With 2012 now underway, it will be rather interesting to see how ship owners will play the "newbuilding ordering" card to their favor, as ...
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- Australian Coal Association
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- White Energy Company Limited
- Eastern Energy - Thailand
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
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