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