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