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