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