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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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- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
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- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
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- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- The University of Queensland
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- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
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- TeaM Sual Corporation - Philippines
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- Independent Power Producers Association of India
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- Romanian Commodities Exchange
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- Directorate Of Revenue Intelligence - India
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- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Marubeni Corporation - India
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Australian Coal Association
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
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