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