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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, 09 October 11
FREIGHT MARKET ENDED WITH A POSITIVE DIRECTION - VISTAAR
COALspot.com - The market ended with a positive note with all the segments up except for handy size. The biggest gainer was Panamax index up by 11 p ...
Saturday, 08 October 11
INDONESIAN MINER PLANS $167M IPO TO FUEL SUMATRA COAL BOOM - JG
The Jakarta Globe reported that, coal miner Atlas Resources aims to raise as much as Rp 1.5 trillion ($167 million) in an initial public offering to ...
Friday, 07 October 11
MINING REGULATIONS , OBSTACLES AND GROWTH : INDIA VS INDONESIA - SUNIL K KUMBHAT
COALspot.com - The Govt of India has passed long pending Mines & Minerals (Regulation and Development) Bill, 2011, which seeks to replace ...
Friday, 07 October 11
$100M FOR EXPANSION INTO KALIMANTAN MINING: AKR
The Jakarta Globe, one of the leading English news paper in Indonesia reported that, AKR Corporindo, a fuel and chemical distributor, has set aside ...
Thursday, 06 October 11
REALM SECURES 51% OF KATINGAN RIA COAL PROJECT IN CENTRAL KALIMANTAN
•Realm secures 51% of PT Katingan Ria Thermal Coal Project in Central Kalimantan
•Realm takes ownership of Kalres Limited
•Acquisit ...
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- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- The University of Queensland
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- PTC India Limited - India
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
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