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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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Sunday, 23 October 11
CHINA LOOKING TO RESELL INDONESIAN COAL CARGOES - BARCLAYS
Commodity Online reported that, Anecdotal evidence has suggested that China is even looking to resell Indonesian cargoes back into the seaborne coal ...
Saturday, 22 October 11
THE SHORT-PERIOD RATES FOR PANAMAX REMAINED FIRM - CAPT. REDDY
COALspot.com - "The market seemed to slow down a bit this week, and all sectors were down by about One to five percent", said Capt. Reddy, ...
Saturday, 22 October 11
WILL THE PROPOSED 26 PERCENT PROFIT SHARING CLAUSE IN THE MINING BILL SPEED UP THE PRODUCTION OR SCARE AWAY INVESTORS? - DIPESH DIPU
A draft law has been approved by a ministerial panel headed by Finance Minister Pranab Mukherjee of India which, if passed by the Cabinet, will make ...
Saturday, 22 October 11
INDONESIA'S GOLDEN ENERGY SLASHES ITS IPO PRICE - THE JAKARTA GLOBE
The Jakarta Globe reported that, Golden Energy Mines, a coal mining company affiliated with Sinar Mas Group, lowered its target in an initial public ...
Thursday, 20 October 11
CAPESIZE - TUBARAO /QINGDAO BEING FIXED AT STRONG US$ 29.75 PMT
Handy
The Atlantic market is quite steady, and market seems to be around the same levels as last week. Fewer fixtures reported though. ...
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- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- The University of Queensland
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
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