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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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Tuesday, 27 March 12
DRY BULK MARKET KEEP RISING FOLLOWING THE SAME TREND OF LAST WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum this week, on the same reasons of those last week. That is, the smaller ship types are still on the ris ...
Monday, 26 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The Baltic Dry Index follows its upward incline for fourth consecutive week by rising to more than 900 points, up by 37% from the bottom low in the ...
Monday, 26 March 12
GOLDEN MINES FY11 REVENUE JUMPS 209% - INSIDER STORIES
Insider Stories reported that, coal miner PT Golden Energy Mines Tbk (GEMS), that is controlled by Sinar Mas Group, recorded a 209% jump in revenue ...
Saturday, 24 March 12
AUSTRALIA'S MINERAL TAX : BENCHMARK FOR OTHER COUNTRIES - SUNIL K KUMBHAT
COALspot.com - Natural resources rich counties like Australia , Indonesia , South Africa , Brazil etc are going through a spectacular resources boom ...
Saturday, 24 March 12
THE AVERAGE CHARTER RATES WAS AT CAPESIZE $ 4,546 PER DAY VS SUPRAMAX / $ 10,819 PER DAY - VISTAAR
COALspot.com - The BDI crossed 900 points this week closing at 908 points up by 3.89 pct. All other sectors were up except for cape index whic ...
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- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
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