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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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Tuesday, 07 August 12
2ND ANNUAL FLOATING TERMINALS
Press Release - After a ground breaking and successful launch in 2011, the 2nd Annual Floating Terminals conferenceis back to address innovation, co ...
Tuesday, 07 August 12
KRISHNAPATNAM PORT HAS DISCHARGED 122,247 MTS OF COAL IN JUST 24 HRS
COALspot.com - Keeping with the tradition of the new records that are set at the Olympic Games 2012, Krishnapatnam Port has also achieved in setting ...
Tuesday, 07 August 12
THE JAKARTA POST EDITORIAL: REVISITING THE MINING LAW
The Jakarta post, one of the leading English news paper in Indonesia writes in its editorial today, what the domestic and foreign investors had drea ...
Tuesday, 07 August 12
BARAMULTI SET TO LIST ON BOURSE IN Q4 - JP
The Jakarta Post reported that, coal miner PT Baramulti Sukses Sarana is preparing to make its shares available to the public in the fourth quarter ...
Tuesday, 07 August 12
REALM RESOURCES COMPLETES STUDY ON ITS KATINGAN RIA COAL PROJECT
COALspot.com - Realm Resources Ltd. has announced that it has completed the Project Study for the Katingan Ria Project in Central Kalimantan, Indone ...
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- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- GMR Energy Limited - India
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- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Xindia Steels Limited - India
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Planning Commission, India
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
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