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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
PANAMAXES AGAIN EARN MORE THAN CAPESIZES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest surge of demand for Panamaxes has led the dry bulk market to new higher ground on Monday, with the Baltic Dry Index (BDI) reaching 1,090 ...
Wednesday, 25 April 12
CHINA IMPORTS 9.76 MMT AND INDIA IMPORTS 7.03 MMT OF INDONESIAN COAL LAST MONTH
COALspot.com: Indonesia, the world largest coal exporter, shipped 30.64* million tons of coal in March 2012, compared to 27.12* million tons i ...
Monday, 23 April 12
ALTURA ENTERS INTO AGREEMENT TO ACQUIRE 2 COAL PROJECTS IN SOUTH KALIMANTAN
COALspot.com - Altura Mining Limited (ASX: AJM) has announced that it has entered into an agreement to acquire a further two (2) Mining Permits (IUP ...
Sunday, 22 April 12
THE FREIGHT MARKET EXPECTED TO REMAIN FIRM NEXT WEEK - VISTAAR
COALspot.com - The BDI has broken the psychological barrier of 1000 points and closed at 1067 points.
The cape index was slightly down by 2.48 pc ...
Saturday, 21 April 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS DROP 2.61 PERCENT THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps fell for a fifth day, according to DSP of SGX AsiaClear OTC Coal Swaps.
CFR South China Coal ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Planning Commission, India
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
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