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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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Thursday, 26 April 12
BUKIT ASAMS 1Q OPERATING PROFIT MARGIN HAS INCREASED BY 6% TO RP. 1 TRILLION
COALspot.com - PT. Bukit Asam (Persero), the Indonesia’s state owned coal miner's 1Q, 2012 revenue has increased by 31% to Rp. 3.02 trillion ...
Thursday, 26 April 12
TAIPOWER TO BUY 1.15 MILLION TONS OF 5000 GAR COAL
COALspot.com - Taiwan Power Company intends to procure 1.125million tons of sub-bituminous coal for Taipower thermal power plant through open tender ...
Thursday, 26 April 12
TAIPOWER TO BUY 375,000 MT OF 4800 GAR COAL
COALspot.com - Taiwan Power Company intends to procure 375,000 metric tons of low sulfur sub-bituminous coal for Taipower thermal power plant ...
Thursday, 26 April 12
ADK SHIPPED 28,000 TONNES OF COAL THIS MONTH
COALspot.com - Orpheus Energy (ASX:OEG) has announced that four coal barges carrying a total of approximately 28,000 tonnes of ADK (Alam Duta K ...
Thursday, 26 April 12
DRY BULK CARRIERS RENTER FLEET AFTER IDLING, ON MARKETS RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be back on track, not only solidifying the gains of the past couple of weeks, but also racing to new heights, recuperra ...
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- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Planning Commission, India
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Videocon Industries ltd - India
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