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