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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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Thursday, 15 September 11
BOTSWANA COAL AND ENERGY CONFERENCE 2011
Press Release - Botswana Coal and Energy Conference 2011 | 29-30 November 2011 | Gaborone. Botswana represents Africa’s exciting new coal and ...
Thursday, 15 September 11
DRY BULK MARKET EDGING FURTHER UP THE SCALE, CLOSING IN ON 2,000 POINTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was up once again yesterday, reaching 1,927 points, or 1.375 higher on the day. Thus, it has kept its rising trend established d ...
Wednesday, 14 September 11
INDO STRAITS BAGS 2.4 MILLION TON COAL TRANSPORTATION CONTRACT FROM ARUTMIN
COALspot.com - PT Indo Straits Tbk (PTIS) bagged a contract to tranship about 2.40 million tons of coal over an initial period of 6 months fro ...
Wednesday, 14 September 11
DUTA PERTIWI DISCOVERS COAL RESERVE - INSIDER STORIES
Insider Stories reported that, PT Duta Pertiwi Nusantara Tbk (DPNS) yesterday steeply jumped 24.56% to Rp710 a share after the company discove ...
Wednesday, 14 September 11
GOVT SETS SEPTEMBER COAL REFERENCE PRICE AT $116.26 PER TON
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the September 2011 coal reference price at US$ 116.26 per ton slightly ...
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- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Planning Commission, India
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- PTC India Limited - India
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Minerals Council of Australia
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
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