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