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