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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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Tuesday, 12 June 12
ITACHA RESOURCES BUYS SARANA MARINE - INSIDER STORIES
Insider Stories reported that, coal mining company PT Itacha Resources, a joint venture between Anthoni Salim and Glenn Yusuf, announced that Itacha ...
Monday, 11 June 12
BAHANA FORECASTS THE COAL PRICES WILL FALL FURTHER
COALspot.com - Growing US coal supplies + low shipping costs = Asia as target.
According to Irwan Budiarto analyst at Bahana Securities, US ...
Monday, 11 June 12
ASIAN COAL TRADING COMMUNITY EMBRACES API 5 AND API 8
Press Release - The Asian coal trading community is embracing the API 5 and API 8 indexes for its swap contracts.
The API 5 index represents 5,50 ...
Sunday, 10 June 12
FREIGHT MARKET EXPECTED TO REMAIN WEAK FOR NEXT FEW WEEKS - VISTAAR
COALspot.com - The BDI continued to fall this week and down by 2.99 pct closing at 877 points.
The Cape index also was down by 5.78 pct closing a ...
Friday, 08 June 12
ESSAR ENERGY RECEIVES FINAL APPROVAL FOR INDONESIAN COAL BLOCK
COALspot.com - Essar Energy plc, the India-focused integrated energy company, today announced that it has received final ‘Pinjam Pakai’ ...
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- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- PTC India Limited - India
- Economic Council, Georgia
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
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