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