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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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Wednesday, 27 June 12
DIRECTORATE GENERAL OF MINERAL AND COAL OF INDONESIA INTRODUCES ON-LINE SYSTEM FOR MINING PRODUCTS EXPORT APPROVAL
COALspot.com - Directorate General of Mineral and Coal of Indonesia has released "Clear and Clean" certificate for another 33 coal miners ...
Monday, 25 June 12
RIO TINTO MAKES FIRST COAL SHIPMENT FROM MOZAMBIQUE
Rio Tinto has started exporting premium hard coking coal from its Benga Mine in the Moatize Basin in Mozambique. The first shipment of 34,000 tonnes ...
Sunday, 24 June 12
SUPRAMAX FREIGHT MARKET FIRMED UP FROM INDONESIA TO INDIA - VISTAAR
COALspot.com - This week all the segments gained and marked was firm in the Supramax and Handy size sector, where as the Cape and Panamax inde ...
Saturday, 23 June 12
COAL PRICES APPETITE FOR ROLLER-COASTER RIDES
COALspot.com - SGX AsiaClear OTC Coal Swaps have suffered something of a roller-coaster ride in terms of prices during this week. SGX’s Indone ...
Friday, 22 June 12
PRESENT SPOT WEAKNESS IS TEMPORARY, SEASONAL AND RISE AS WINTER APPROACHES - BUMI
COALspot.com - PT Bumi Resources Tbk, the world’s one of the largest coal producer and Indonesia’s largest multi grade coal miner has no ...
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- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Bhatia International Limited - India
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
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