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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, 18 October 11
INDONESIAN PRESIDENT APPOINTS JERO WACIK AS NEW MINISTER OF ENERGY & MINERAL RESOURCES
COALspot.com - Jero Wacik has been appointed as minister of energy and mineral resources of Indonesia replacing Darwin Saleh and Prof. Widjajono Par ...
Tuesday, 18 October 11
DELTA DUNIA MAKMUR HAS PRODUCED 3.0 MILLION TONS OF COAL LAST MONTH
COALspot.com - PT. Delta Dunia Makmur, wholly owned subsidiary, PT Bukit Makmur Mandiri Utama (BUMA), Delta Dunia Makmur has removed 1.4 million bcm ...
Monday, 17 October 11
KOWEPO TO BUY 260,000 MT BITUMINOUS COAL
COALspot.com - KOWEPO has issued a spot tender for 260,000MT of minimum 5,600kcal/kg NAR Bituminous Coal.
The tender document also mentioned tha ...
Monday, 17 October 11
CAPESIZE SHIPPING COSTS CLIMB TO 10-MONTH HIGH ON ORE IMPORTS
The cost to hire capesize vessels climbed to a 10-month high as rising imports of iron ore to China boosted demand for the ships.Monthly iron-ore sh ...
Saturday, 15 October 11
BUNKER PRICES AND DEMANDS PUSHED FREIGHT RATES UP - VISTAAR
COALspot.com - The market continued to be firm with all segments moving up with biggest gain in Handy size segment up by 15 pct. The BDI was u ...
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- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Australian Coal Association
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Planning Commission, India
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
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