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