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