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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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Friday, 28 June 24
INDIAN POWER STATIONS STOCKED WITH BUMPER COAL SUPPLY AS TRANSPORT WOES EASE - BUSINESS STANDARD
Even as power demand has touched a historic high of 250 gigawatts (Gw) amid sweltering heat this June, India’s power stations are stocked wit ...
Friday, 28 June 24
INDIA'S CY23 COAL USE LARGER THAN NORTH AMERICA, EUROPE COMBINED - THE HINDU
For the first time, India’s coal consumption surpassed that of North America and Europe combined in the calendar year 2023, said Energy Insti ...
Monday, 24 June 24
PLN'S FINANCIAL SUSTAINABILITY RESTS ON ACCELERATED COAL RETIREMENT AND RENEWABLES DEPLOYMENT - MUTYA YUSTIKA
On 28 May 2024, Indonesia’s national electricity utility, PT Perusahaan Listrik Negara (PLN), released its financial report for 2023. Althoug ...
Monday, 24 June 24
INDIA'S COAL-BASED POWER DEMAND AT ALL-TIME HIGH, GOVERNMENT SAYS - REUTERS
India’s demand for coal-based power has risen by 7.3% this fiscal year to an all-time high, the government said in a statement on Wednesday.
...
Monday, 24 June 24
CHINA'S COAL INDUSTRY TURNS GREENER THROUGH INNOVATIVE APPROACHES - PEOPLE'S DAILY
At an opencast mine operated by Inner Mongolia Pingzhuang Coal Group Co. Ltd., a subsidiary of CHN Energy Investment Group (CHN Energy), a 14-meter ...
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Showing 11 to 15 news of total 6871 |
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- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Australian Coal Association
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Planning Commission, India
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
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