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