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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, 04 October 11
INDONESIA RAISES COAL BENCHMARK (HBA) FOR FIRST TIME IN 4 MONTHS
COALspot.com - Indonesia raised the monthly reference price for sales in October by 2.56 percent, the first increase since June.
The Ministry of ...
Tuesday, 04 October 11
COAL MINING GROUP WANTS EXPORT TAX, NOT EXCISE - JG
One of the leading English news paper in Indonesia, The Jakarta Globe reported that, the government shall reimpose a duty on coal exports, classifyi ...
Sunday, 02 October 11
INDIAN COAL IMPORTS PICKED UP - CAPT. REDDY
COALspot.com - The BDI dropped by 1 pct and Cape index dropped by 6 pct closing at 1,899 points and 3,136 points respectively. However all other seg ...
Saturday, 01 October 11
2012 TO BE ANOTHER CHALLENGING YEAR - CEO, REMI MARITIME
Shipowners are facing another challenging year in 2012 said Mr. Leonidas Polemis CEO of Remi Maritime Corporation, urging caution towards operating ...
Friday, 30 September 11
MINING BILL CLEARED, FIRMS TO SHARE 26% PROFITS WITH LOCALS - NDTV
NDTV reported that, The Union Cabinet cleared the draft mining bill aimed at regulating mining activities Friday. The bill proposes a profit-sharing ...
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- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Planning Commission, India
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
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