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