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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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Sunday, 18 March 12
BUKIT ASAM'S NET PROFIT IN 2011 ROSE 54% TO US$ 339.56 MILLION
COALspot.com - Company revenue for the period January - December 2011 amounting to Rp 10.6 trillion (approximately US$ 1,164,835,164.84) recorded an ...
Saturday, 17 March 12
THE FREIGHT RATES FOR INDONESIA TO INDIA REMAINED FIRM - VISTAAR SINGAPORE
COALspot.com - The market continued to be firm and all segments were up except for Cape Index which was down by 2.46 pct closing at 1,466 points.
...
Saturday, 17 March 12
INDIAN GOVT FINALIZES DRAFT BILL FOR COAL REGULATOR - PTI
The coal sector would soon get a regulator as the government has finalised a draft bill for the purpose, Coal Minister Sriprakash Jaiswal said Wedne ...
Friday, 16 March 12
THE PACIFIC MARKET IS FIRMING UP - FEARNLEYS AS
Handy
A slightly positive trend was seen last week in the Atlantic. Skaw-Passero deliveries fixed around USD 3k to US Gulf, while US Gulf deliveres ...
Thursday, 15 March 12
RAINS AVERAGE SELLING PRICE OF COAL WENT UP BY 22 % IN 2011
COALspot.com - PT. Resource Alam Indonesia Tbk, an Indonesian CCoW (3rd Generation) holder reported Wednesday a 171 percent increase in net profits ...
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- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Australian Coal Association
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Planning Commission, India
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
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