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