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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, 08 September 11
PETROSEA ADDS US$730 MIO CONTRACT
Coal mining contractor PT Petrosea Tbk (PTRO), a majority owned subsidiary of energy integrated company PT Indika Energy Tbk (INDY), has secured a U ...
Wednesday, 07 September 11
ANOTHER EXCEPTIONALLY STRONG WEEK FOR THE CAPESIZE MARKET - BRS
The very strong rise in Cape rates pushed through an overall improvement in the BDI this week, although relatively little benefit from the Capes has ...
Wednesday, 07 September 11
INDIA HIT BY INDONESIAS COAL PRICE - TEMPO INTERACTIVE
TEMPO Interactive, an Indonesian online news portal reported that, The Indian government has complained about the price increase of Indonesian coal, ...
Wednesday, 07 September 11
SAMPUR POWER AGREEMENT SIGNED - DAILY NEWS
Daily News, Sri Lank's national news paper reported that, the agreement for the setting up of a 500 MW coal-fired power plant at Sampur, Trincomale ...
Tuesday, 06 September 11
INDONESIAS PROPOSED COAL EXPORT BAN MAY HAVE IMPACT ON THE INDIAN POWER SECTOR - DIPESH DIPU
COALspot.com - This is a special interview about Indonesian proposed coal export ban by 2014, with Mr. Dipesh Dipu, Director of Deloitte Touche Tohm ...
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- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
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