We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 04 April 12
CHURCHILL MINING TO ACCELERATE INTERNATIONAL ARBITRATION AGAINST INDONESIA
Churchill Mining plc (AIM: CHL), advises that notations on the Indonesian Supreme Court's register of cases shows the Supreme Court has rejected th ...
Monday, 02 April 12
BANGLADESH EYEING INDONESIA FOR COAL
COALspot.com - The high level executives of Center for Environmental and Geographic Information Services (CEGIS) of Bangladesh is visiting Ind ...
Monday, 02 April 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first quarter of the New Year ended with the BDI standing 42% above from the 26 years’ bottom low of 662 points on February 1st, and a pos ...
Saturday, 31 March 12
THE BDI CONTINUED TO MOVE UPWARD - VISTAAR
COALspot.com - The BDI continued to move upward and rose by 2.86 pct closing at 934 points.
The cape index was up by 3.14 pct closing at 1,412 po ...
Saturday, 31 March 12
SRI LANKA IMPORTS 152,555 MT OF INDONESIAN COAL IN FEBRUARY
COALspot.com: Indonesia, the world largest coal exporter, shipped 27.126* million tons of coal in February 2012, compared to 28.21* million to ...
|
|
|
Showing 4781 to 4785 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
|
| |
| |
|
