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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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Saturday, 11 August 12
INDONESIAN COAL REFERENCE PRICE HAS LOST 27.78 PERCENT YOY
COALspot.com - Indonesian HBA fell again in August.
The monthly coal reference price for coal sales this month fell 3.32 percent. HBA fell ...
Saturday, 11 August 12
SUB-BIT INDONESIA COAL SWAPS SEEN MOVING IN THE RIGHT DIRECTION
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 1.29 percent W-o-W on Friday (10 August 2012) closing but lost 1 ...
Friday, 10 August 12
DRY BULK MARKET DROWNING FROM TONNAGE OVERSUPPLY - HELLENIC SHIPPING
The dry bulk market has been overflowing with new building vessels, despite the fact that demand is more or less (and minus the seasonal factors) ri ...
Thursday, 09 August 12
3RD ANNUAL SHALE GAS
Press Release - With the North American shale gas boom, IBC’s 3rd Annual Shale Gas explores optimal strategies to monetize Asia’s domest ...
Wednesday, 08 August 12
EXPLOITASI AIMS TO RAISE RP 2.7T FOR ACQUISITION - THE JAKARTA POST
The Jakarta Post reported that, publicly listed coal miner PT Exploitasi Energi Indonesia (CNKO) is seeking to raise Rp 2.7 trillion (US$286.2 milli ...
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- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- The University of Queensland
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
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