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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, 23 August 11
PENRHYN COAL USING EVERGREEN ENERGYS COAL UPGRADING PROCESS
Evergreen Energy Inc has announced the successful testing results of the initial batches of Penrhyn coal using Evergreen Energy’s coal upgradi ...
Tuesday, 23 August 11
A SHARP INCREASE IN THE BDI - BRS
A sharp increase in the BDI this week, driven by the rise in Capesize rates. Overall the BDI was up 13.5% to 1,462 points on the back of a 20% surge ...
Monday, 22 August 11
INDONESIA TO BAN BELOW 5700 KCAL/KG COAL FOR EXPORT
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia is in the process of drafting a regulation which is requiring mine owners ...
Monday, 22 August 11
JATENERGY AGREED TO FORM JV WITH AN INDONESIAN COAL MINING COMPANY
COALspot.com - Australian’s listed company, Jatenergy Limited has entered conditional agreement to form joint venture with Indonesia’s c ...
Monday, 22 August 11
NTPC TO IMPORT 16 MILLION TON OF COAL TO BRIDGE THE GAP
COALspot.com - NTPC to import 16 million tons of imported coal, which is equivalent to 23-24 million tons of Indian coal to bridge the gap.
" ...
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- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Planning Commission, India
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
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