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