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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, 06 June 12
INDONESIAN GOVERNMENT'S DECLARED COAL PRICES CONTINUING ITS DECLINE
COALspot.com - Indonesian HBA fell to lowest level since January 2011 in June 2012. The monthly coal reference price for coal sales this month ...
Monday, 04 June 12
MITRABAHTERA SUBSIDIARY SECURES CONTRACT FROM BERAU COAL - INSIDER STORIES
Insider Stories reported that, PT Mitra Alam Segara Sejati, a subsidiary that is 60% owned by PT Mitrabahtera Segara Sejati Tbk (MBSS), has secur ...
Sunday, 03 June 12
TTI ESTABLISHES COAL TRADING & MARKETING OFFICE
COALspot.com - TTI has officially established its coal trading, marketing-office in Jakarta, Indonesia. PT. Gunung Tinggi Coal is the TTI’s fi ...
Sunday, 03 June 12
FREIGHT MARKET CONTINUING ITS DECLINE
COALspot.com - The BDI continued to fall for the fifth straight week and the BDI fell by 2.57 pct this week closing at 904 points.
The Cape Size ...
Friday, 01 June 12
TNPL HAS SECURED 300K MT OF 6000 GAD COAL AT US$ 81 CNF TUTICORIN
COALspot.com - An India based coal trader Adani has offered the lowest price of US$ 81.00 per metric ton for calorific value of 6000 GAD and 15 perc ...
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- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- PTC India Limited - India
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- CNBM International Corporation - China
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