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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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Saturday, 17 September 11
GVK ACQUIRES HANCOCK COAL AND INFRASTRUCTURE FOR US$ 1.26 BILLION
COALspot.com - GVK group, India’s leading infrastructure developer,confirmed arrangements for the acquisition of a strategic part of large, hi ...
Saturday, 17 September 11
INDIA'S GVK ACQUIRES HANCOCK COAL AND INFRASTRUCTURE PROJECTS IN AUSTRALIA
COALspot.com - GVK group, India’s leading infrastructure developer, today confirmed arrangements for the acquisition of a strategic part of la ...
Friday, 16 September 11
DELTA DUNIA MAKMUR REMOVED 30.9 MILLION BCM OVERBURDEN IN AUGUST 2011
COALspot.com - PT. Delta Dunia Makmur Tbk has removed 30.9 million bcm (+13.2% YoY) overburden in August 2011 while coal production was at 2.9 ...
Thursday, 15 September 11
RUSSIAN COAL EXPORTS UP 10.9% IN JAN-AUG TO 71.50 MILLION TONS - PORT NEWS / HELLENIC SHIPPING
Port News reported that, Coal exports from Russia in January-August 2011 grew by 10.9% compared with the same period last year, to 71.50 million ton ...
Thursday, 15 September 11
INDIAN GOVT PLANS TO DEVELOP 9 NEW MAJOR PORTS BY 2016 - INVEST MONEY / HELLENIC SHIPPING
The government has announced to make a investment of more than Rs 22,000 crore (approximately US$ 4,623,791,331) to develop nine new major ...
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- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- PTC India Limited - India
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Minerals Council of Australia
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
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