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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, 23 July 12
NTPC INVITES BIDS FOR 2.6 MILLION TONS OF LOW MOISTURE IMPORTED COAL
COALspot.com - India’s largest electricity generator, NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government ...
Sunday, 22 July 12
NEW CHAIRMAN FOR AUSTRALIAN COAL ASSOCIATION
The Australian Coal Association (ACA) announced that Mr Ross Willims has been appointed as its new independent Chairman effective November 5 2012. M ...
Sunday, 22 July 12
CENTRAL KALIMANTAN COAL RAILWAY NETWORK WILL BE BUILT BY 2015 - THE BORNEO POST
The borneo post reported that, a declaration to build a coal railway network is signed today (12/07/2012) in front of the Indonesian Vice President ...
Sunday, 22 July 12
COAL PRICES IN MIXED TRENDS; STOCKS REMAIN HIGH AT BOTH ENDS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery fell 0.99 percent on last Friday closing (d-o-d) and 1.19 percent com ...
Sunday, 22 July 12
TATA POWER SIGNS A LONG TERM COAL SUPPLY AGREEMENT WITH PT ANTANG GUNUNG MERATUS, INDONESIA
COALspot.com - Tata Power, India’s largest integrated power utility, last Friday announced that it has signed a long term coal suppl ...
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- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Tamil Nadu electricity Board
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