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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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Friday, 08 June 12
MINISTER DENIES COAL EXPORT TAX PLAN, ENDORSES RESTRICTIONS - THE JAKARTA POST
The Jakarta post, one of the leading english news paper in Indonesia reported that, Energy and Mineral Resources Minister Jero Wacik has denied that ...
Friday, 08 June 12
NO IMMEDIATE IMPACT ON ADARO'S RATING FROM BEP TRANSACTION - FITCH RATINGS
Fitch Ratings has said that PT Adaro Indonesia's (Adaro, 'BB+'/ Stable) ratings are not immediately affected by its parent PT Adaro Energy Tbk's ...
Thursday, 07 June 12
DRY BULK MARKET FALLS FOR 10 STRAIGHT SESSION ON OVERSUPPLY PROBLEMS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A resurgence of oversupply, coupled with national holidays in various parts of the world has contributed to yet another fall of the dry bulk market ...
Thursday, 07 June 12
COAL EXPORT TAX NOT RATIONAL: MINISTER - THE JAKARTA POST
Trade Minister Gita Wirjawan has criticized as irrational the idea to restrict coal exports by imposing an export tax, According to The Jakarta post ...
Thursday, 07 June 12
BY 2022 PLN IS EXPECTED TO BURN AROUND 125 MILLION TONS OF COAL
COALspot.com - Indonesia's state owned electricity company's (PLN) coal consumption is expected to reach 125.7 million tons by 2012.
Nur Pamudj ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Posco Energy - South Korea
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- PTC India Limited - India
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
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