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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, 01 May 12
VIETNAM FEARS IT MAY NOT SEEK COAL SUPPLIES - TBKTSG / VIETNAMNET BRIDGE
TBKTSG / VietNamNet Bridge reported that, with five coal-run thermopower plants under construction, PetroVietnam alone would need 18 million tons of ...
Sunday, 29 April 12
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The BDI continued to go up with the support of Panamax/Supramax and was up by 8.34 pct closing at 1,156 points.
The cape index was ...
Sunday, 29 April 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS FOR MAY 2012 DELIVERY WAS STABLE THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps for May deliveries stable this week, according to DSP of SGX AsiaClear OTC Coal Swaps. In the me ...
Friday, 27 April 12
BUKIT ASAMS NET INCOME UP 14% IN 1Q 2012 (UNAUDITED)
Press Release - PT Bukit Asam (Persero) Tbk, announced the Consolidated Financial Statements and Subsidiaries per 31 March 2012 (Unaudited).
Reve ...
Thursday, 26 April 12
AUSTRALIAS COKAL EXPANDS MET COAL POTENTIAL INTO WEST KALIMANTAN
COALspot.com - Global metallurgical coal group Cokal Limited (Cokal) (ASX:CKA) announced today it has completed the acquisition of 75.2% of PT Silan ...
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- Commonwealth Bank - Australia
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- The University of Queensland
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
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