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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, 05 July 12
BUMI ACHIEVES HIGHER SELLING PRICE IN FIRST QUARTER
COALspot.com - PT Bumi Resources Tbk (BUMI), Indonesia's largest coal producer and exporter, has successfully maintained a higher sales margin, des ...
Tuesday, 03 July 12
DRY BULK MARKET INCHED FORWARD AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched forward at the beginning of the new week, prior to the US holidays regarding the celebration of the 4th of July, which is ...
Monday, 02 July 12
ORPHEUS STRENGTHENS REVENUE STREAM WITH NEW ROYALTY AGREEMENT AT THE B2 COAL PROJECT
Orpheus Energy (ASX:OEG) is pleased to advise that it has executed a life of mine Royalty Agreement with Indonesian mining contractor PT Debbia Mini ...
Monday, 02 July 12
DRY BULK DEMAND TO RISE TO 3.6 BILLION TONNES IN 2012, BUT NEW BUILDING DELIVERIES ARE
In its latest analysis on the dry bulk market fundamentals, DVB Bank said that dry bulk cargo demand is forecast to rise to approximately 3.6 billio ...
Sunday, 01 July 12
AUSTRALIAS CARBON TAX - SUNIL K KUMBHAT
COALspot.com - Climate Change
Climate change and global warming have now become buzzwords the world over. The disastrous consequences for global ...
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- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- PTC India Limited - India
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
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