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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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Friday, 19 August 11
INDIA IMPORTS LESS INDONESIAN COAL THAN CHINA IN JULY
COALspot.com - Indonesia shipped 31.30 Million tons of coal in July 2011, up by 10.69 percent compared to June's export of about 28.27 ...
Thursday, 18 August 11
INDONESIAS PROPOSED LOW GRADE COAL EXPORT BAN WILL NOT HAVE A SIGNIFICANT IMPACT ON INDIA - MISWIN MAHESH
COALspot.com - The Indonesian government is currently in the process of drafting a new regulation that could ban the export of low-grade coal by Jan ...
Thursday, 18 August 11
MARUBENI ACQUIRED 42.86% OF YTL JAWA POWER
COALspot.com - Marubeni Corporation (Marubeni) has completed the acquisition of 42.86 percent of the shares of YTL Jawa Power Holdings BV from YTL P ...
Wednesday, 17 August 11
CME LAUNCHES ARGUS COKING COAL SWAP FUTURES
COALspot.com - Argus media reported that, leading exchange CME Group will list an Australian coking coal swap futures contract for trading on the Ny ...
Wednesday, 17 August 11
TAVESCO KILLARA ENERGY TO ACQUIRE COAL CONCESSIONS IN EAST KALIMANTAN
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
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- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- VISA Power Limited - India
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- GMR Energy Limited - India
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
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