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