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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, 01 November 11
DRY BULK MARKETS CORRECTION SPILLS OVER ONTO NEW WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is losing steam, as evidenced by the falls experienced last week, which were also apparent at the beginning of the new week. A l ...
Monday, 31 October 11
CHINAS HUNGER FOR INDONESIAN COAL AT THREE YEAR-HIGH AS WINTER NEARS - JOSEPH KIRSCHKE
COALspot.com - Chinese demand for power-station coal from Indonesia has soared to its highest level in three years, as central heating plants and po ...
Saturday, 29 October 11
ATLAS RESOURCES SEALS US$95 MIO LOAN - INSIDER STORIES
Insider Stories reported that, coal producer PT Atlas Resources Tbk, that is controlled by Indonesian businessman Andre Abdi, has secured US$95 mill ...
Saturday, 29 October 11
INDONESIA TO INDIA FREIGHT LIKELY TO REMAIN SOFT
COALspot.com - The market continued to slow down and all segment were down this week.
The biggest drop was in the Cape Index down by 8.19 pct&nbs ...
Friday, 28 October 11
RISING COAL PRICES TO WORSEN CHINA'S WINTER POWER CRUNCH - CRI ENGLISH
CRI English reported that, the rising price of coal is fueling concerns about a power crunch set to plague China this winter, analysts said.
The ...
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- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Romanian Commodities Exchange
- The University of Queensland
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Deloitte Consulting - India
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Australian Coal Association
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Central Electricity Authority - India
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