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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, 10 January 12
THE 4TH DEEPWATER ASIA CONGRESS 2012 WILL KICK OFF ON MAY 23 - 25
Press release - Based on the past three years’ success, SZ & W Group is excited to announce the 4th Deepwater Asia Congress will be held o ...
Monday, 09 January 12
2012: WHAT WILL IT BRING FOR THE DRY BULK MARKET? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A further increase in dry bulk demand could be the remedy for most of the industry's oversupply issues, together of course with the high level of s ...
Sunday, 08 January 12
ICICI OUTLOOK ON INDIAN POWER, MINING,CEMENT, AND SHIPPING SECTORS PERFORMANCE IN 2012
Broking firm, ICICIdirect (India) has come out with report on sectors outlook for 2012. IRIS has collated key highlights for each sector from ...
Sunday, 08 January 12
SUPRAMAX DELIVERY SOUTH CHINA FOR TRIPS VIA INDONESIA WERE REPORTED AROUND $ 7000 PER DAY - VISTAAR
Wish You a Very Happy and Prosperous New year 2012.
COALspot.com - The last report by us was on 16th Dec 2011 and because of holidays this would ...
Sunday, 08 January 12
THARPAK CONSORTIUM FORMED TO DEVELOP MEGA ENERGY COMPLEX IN SINDH PROVINCE, PAKISTAN
Press Release: On January 5th, TharPak, LLC met with officials of the Embassy of Pakistan in Washington DC to introduce and announce the formation o ...
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- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Central Electricity Authority - India
- White Energy Company Limited
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Australian Coal Association
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
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