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