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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, 28 July 12
CAL 2013 COAL SWAPS ARE HIGHER COMPARED TO SEPT 2012 PRICES
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 0.47 percent on Friday (27 July 2012) closing DoD but lost 0.90 ...
Friday, 27 July 12
PACIFIC MARKET REMAINED FLAT - FEARNLEYS AS
Handy
The Atlantic market continued its downward trend from last week with what appears to be a summer lull across the board. A trip from the USG t ...
Wednesday, 25 July 12
BUKIT ASAMS H1 REVENUE JUMPED BY 13 PERCENT
COALspot.com - PT Bukit Asam (Persero), Tbk., the state owned coal miner's revenue in H1 2012, has jumped 13 percent to IDR 5.79 trillion (approxim ...
Wednesday, 25 July 12
BUMI RESOURCES MINERALS SECURED PINJAM PAKAI FOR ITS ZINC AND LEAD PROJECT
COALspot.com - PT Bumi Resources Minerals Tbk. ("BRMS" or "the Company") today reported that its 80% owned subsidiary, PT Dairi ...
Tuesday, 24 July 12
SHIP OWNERS WAITING FOR SHIP PRICES TO FALL FURTHER BEFORE MOVING IN MORE AGGRESSIVELY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the summer season already well under way and many ship owners getting ready for the autumn, the sale & purchasing activity of second hand v ...
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- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Australian Coal Association
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Economic Council, Georgia
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Planning Commission, India
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- PTC India Limited - India
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
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