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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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Friday, 23 September 11
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PT United Tractors Tbk is targeting a 7 million tons of coal production next year, a 55.55% increase from 4.5 millions targeted this year, said Pres ...
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Handy
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Wednesday, 21 September 11
INDIA'S COAL IMPORTS FROM INDONESIA FALL, CHINA BUYS MORE
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Wednesday, 21 September 11
2ND ANNUAL SHALE GAS SUMMIT
2nd Annual Shale Gas Summit 31 October – 3 November 2011 JW Marriott Hotel, Hong Kong
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- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- White Energy Company Limited
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Planning Commission, India
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
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