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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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Wednesday, 02 November 11
MMTC TO BUY 3.73 MILLION TONS OF COAL FOR 2011- 2013
COALspot.com - India’s state-owned coal and mineral trader MMTC looking for 3.73 million tons of power plant coal for the period 2011 - 2012/ ...
Wednesday, 02 November 11
PANAMAX MARKET BECAME QUIETER AFTER THE RECENT RECOVERY - BRS
There were substantial losses across the board this week: the BDI lost 6.3% to end at 2,018 and the BCI 8.2% to end 3,274. In the smaller sizes the ...
Tuesday, 01 November 11
BORNEO LUMBUNG BUYS 23.8% INTEREST IN BUMI
COALspot.com - PT. Borneo Lumbung Energi (BORN), an Indonesian coking coal producer announces that it has signed a sale and purchase agreement, cond ...
Tuesday, 01 November 11
BAKRIE FORMS STRATEGIC PARTNERSHIP WITH BORNEO - REDUCING DEBT BY USD 1 BILLION
Press Release - Enhancing the standing of “Indonesia Inc.” at the London Stock Exchange PT Bakrie & Brothers Tbk (“BNBR” ...
Tuesday, 01 November 11
ATLAS RESOURCES SETS IPO AT RP1,500 - INSIDER STORIES
Insider Stories reported that, coal miner PT Atlas Resources Tbk has set its initial public offering (IPO) at Rp1,500 (approximately US$ 0.169) per ...
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- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- The University of Queensland
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Australian Coal Association
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
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