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