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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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Monday, 20 August 12
CHINESE COAL SWAPS RISE, INDONESIAN COAL CONTRACTS SOFT
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery lost -2.05 percent W-o-W on Friday (17 August 2012) closing but gained ...
Saturday, 18 August 12
BULK FREIGHT MARKETS CONTINUED THEIR DECLINE IN LINE WITH WEAK DEMAND - VISTAAR
COALspot.com - This week also the indices fell on all segments with BDI touching lowest in almost 3 years.
The BDI closed at 714 points down by 7 ...
Thursday, 16 August 12
PUBLIC PRIVATE PARTNERSHIPS CONFERENCE 2012
Press Release - Asia’s Premier Public Private Partnerships Conference 2012 will showcase commercial opportunities for investors and developers ...
Wednesday, 15 August 12
UT GENERATED RP 3.09 TRILLION NET INCOME
COALspot.com - As of June 2012 Indonesia’s heavy equipment market grew 14%, from 8,448 units to 9,618 units (based on UT’s internal mark ...
Tuesday, 14 August 12
SAKARI ENTERED INTO JV IN CAMBODIA TO EXPLORE COAL OPPORTUNITIES
COALspot.com - Sakari joints hands with The Royal Group of Companies in Cambodia to explore and develop coal opportunities throughout the country.
...
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- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- The University of Queensland
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Australian Coal Association
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
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