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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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Thursday, 12 July 12
SOUTHGOBI RESOURCES ANNOUNCES NOTICE OF INVESTMENT DISPUTE FILED AGAINST MONGOLIAN GOVERNMENT
Press Release - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) (“SouthGobi”) announced today that SGQ Coal Investment Pte. Ltd., a wholly ...
Wednesday, 11 July 12
HBA DROPPED SHARPLY IN JULY
COALspot.com - Indonesian HBA fell to lowest level since September 2010 in July 2012. The monthly coal reference price for coal sales this mon ...
Wednesday, 11 July 12
SUB-BIT FOB INDONESIA COAL SWAP LOST $ 1.26 PER TON
COALspot.com - Sub-Bit FOB Indonesia Coal decline for a second day yesterday, according to SGX AsiaClear OTC Coal Swaps. The prices for shipments to ...
Tuesday, 10 July 12
DRY BULK MARKET RECORDS MODEST GAINS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched a bit higher on Monday, with the Baltic Dry Index (BDI) ending the session up by 5 points to 1,162. Most markets were hig ...
Saturday, 07 July 12
INDONESIA-JAPAN RELATIONS TURN SOUR - THE JAKARTA POST
The Jakarta Post, the one of the leading Indonesian English new papers reported that, Bilateral relations between Indonesia and Japan have recently ...
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- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Economic Council, Georgia
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- White Energy Company Limited
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
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