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