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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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Tuesday, 13 September 11
CAPITAL COSTS OF INDIAN COAL MINING PROJECT - AN ANALYST VIEW
By Mr Dipesh Dipu, Director - Consulting (Mining), Deloitte Touche Tohmatsu India Private Limited
The coal mining sector that has been opened par ...
Tuesday, 13 September 11
INDONESIAS COAL SECTOR EYES 2012 BOOM - JG
The Jakarta Globe, Indonesian English language News paper reported that, Coal production is set to surge next year as coal miners bolster their busi ...
Tuesday, 13 September 11
DRY BULK RALLY MAINTAINS MOMENTUM AT START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum at the start of the week, as the industry’s benchmark, the Baltic Dry Index (BDI) was up by 2.07% ...
Monday, 12 September 11
INDONESIAN GOVERNMENT HAS ALLOCATED MORE COAL FOR 2012
COALspot.com - Indonesian government has increased the domestic market obligation allocation to 82.07 million tons of coal for 2012, which is 4 perc ...
Saturday, 10 September 11
THE FREIGHT MARKET LIKELY TO BE FIRM NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued the upward trend during last week with BDI crossing 1,800 points and closing at 1,838 points up by 5.63 ...
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- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Planning Commission, India
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Trasteel International SA, Italy
- PTC India Limited - India
- The University of Queensland
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
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