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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, 06 September 11
SEMEN GRESIK TO ACQUIRE COAL MINE FOR RP. 1 TRILLION
COALspot.com - PT Semen Gresik Tbk (SMGR) is planning to acquire a low calorific value coal concession (IUP). According to Semen Gresik, the coal mi ...
Tuesday, 06 September 11
DRY BULK MARKETS RALLY POWERS THROUGH TO NEW WEEK, BUT A CORRECTION COULD BE OVERDUE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s freights rates kept leaping forwards during the beginning of the week, with the industry’s benchmark, the Baltic D ...
Monday, 05 September 11
TNPL POSTPONES BID OPENING UNTIL 12 SEPTEMBER 2011
COALspot.com - TNPL has postponed submission of the offer until 12 September 2011 on request from the supplier, an Indian trader said.
Due to Ram ...
Monday, 05 September 11
INDONESIAN COAL BENCHMARK PRICE - ANALYSIS
Analyst : Sunil K Kumbhat
COALspot.com - As a part of the Government’s efforts to stop transfer pricing abuses which have resulted in the los ...
Saturday, 03 September 11
FEW SHIPS REPORTED FIXED FROM INDONESIA TO INDIA - VISTAAR
COALspot.com - The freight market continued the upward trend during last week with BDI up by about 13 pct closing at 1,740 points and cape index up ...
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- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- The University of Queensland
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
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