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