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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, 25 August 11
OPG EXPECTS COAL PRICES TO REMAIN FIRM IN THE SHORT TERM
COALspot.com - Revenue of OPG, the developer and operator of Group Captive power plants in India up 188% to £33.15m and Income from continuing ...
Thursday, 25 August 11
PAITON POWER LOOKING FOR 3.96 MILLION TONS OF COAL
COALspot.com - PT Pembangkit Jawa Bali (PJB) is looking for 3.96 million tons coal with calorific value 4,800 kcal/kg on as received basis. Accordin ...
Tuesday, 23 August 11
ICMA CALLS GOVERNMENT TO REVIEW EXPORT BAN REGULATION
COALspot.com - Chairman of the Indonesian Coal Mining Association (ICMA) Bob Kamandanu asks the government to review the regulation that being draft ...
Tuesday, 23 August 11
ADARO ENERGY ACQUIRES 75% STAKE OF PT MUSTIKA INDAH PERMAI FOR US$ 222.5 MILLION
COALspot.com - PT Alam Tri Abadi, a wholly owned subsidiary of PT Adaro Energy Tbk, signed a share purchase agreement to acquire a 75% stake of PT M ...
Tuesday, 23 August 11
COAL DEMAND IS REMAINED STRONG IN SPITE OF CURRENT GLOBAL ECONOMIC UNCERTAINTY - BUMI
COALspot.com - Indonesia's largest coal producer, PT Bumi Resources, Tbk (BUMI)'s sales revenue has increased to US$1.79 billion (compared with US ...
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- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Planning Commission, India
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Posco Energy - South Korea
- Australian Coal Association
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- MS Steel International - UAE
- Parry Sugars Refinery, India
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