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