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