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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, 06 August 12
3RD ANNUAL INDONESIA POWER
Press Release - 3rd Annual Indonesia Power is Indonesia’s premier power event, where commercial opportunities and new projects are identified. ...
Monday, 06 August 12
COAL EXPORTS COULD ADD $2B TO $6B ANNUALLY TO U.S. ECONOMY - HELLENIC SHIPPING
Business groups backing Pacific Northwest coal export proposals on Thursday lauded a new report that claims increased U.S. coal exports could bring ...
Sunday, 05 August 12
SUB-BIT INDONESIA COAL SWAPS ARE WAY UP
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 1.36 percent on Friday (3 August 2012) closing W-o-W but gained& ...
Sunday, 05 August 12
INDONESIA'S ADARO TRIMS PRODUCTION FORECAST, CITES BAD ECONOMY - THE JAKARTA GLOBE
The Jakarta globe reported that, Adaro Energy, the country’s second-largest coal producer, has cut its annual production forecast to between ...
Sunday, 05 August 12
DRY BULK FREIGHT MARKET TO STAY WEAK NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com - The freight market continued to soften further in all segments.
The BDI was down by 8.68 pct closing at 852 points. The cape index ...
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- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- MS Steel International - UAE
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Planning Commission, India
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Petron Corporation, Philippines
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- PTC India Limited - India
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
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