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