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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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Friday, 30 March 12
RECOND NUMBERS SURROUNDING THE SUPRAMAX DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Last year proved to be both a record year in the number of deliveries of dry bulkers between 40,000dwt and 64,000dwt, as well as a record year in th ...
Thursday, 29 March 12
DRY BULK EDGED FURTHER UP, ON HEALTHY DEMAND FOR MOST SHIP TYPES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With capesize vessels finally reappearing in demand, the dry bulk market had an easier task of rising yesterday, as the BDI (Baltic Dry Index) reach ...
Thursday, 29 March 12
ADARO FY11 NET INCOME JUMPS 124% - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk (ADRO) today announced a 124% jump in net income to US$552 million last year or US$0.017 a share. ...
Wednesday, 28 March 12
CUESTA HAS RECEIVED APPLICATIONS AND FIRM BIDS IN EXCESS OF $9 MILLION FOR THE COMPANYS IPO
COALspot.com - The Directors of Cuesta Coal Limited (ASX:CQC) have announced that today it has received applications and firm bids in excess of $9 m ...
Wednesday, 28 March 12
ORPHEUS ENERGY TO COMMENCE JORC DRILLING AT ADK PROJECT
COALspot.com - Indonesian coal explorer and producer, Orpheus Energy (ASX:OEG), have today announced that the company is about to commence a drillin ...
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- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- PTC India Limited - India
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Australian Coal Association
- White Energy Company Limited
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
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