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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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Monday, 12 March 12
DELTA DUNIA 1M OVERBURDEN DROPS 3.1% - INSIDER STORIES
Insider Stories reported that, Indonesia's second largest coal mining contractor PT Delta Dunia Makmur Tbk (DOID) reported a 25 million bank ...
Monday, 12 March 12
DRY BULK RATES WILL REMAIN LOW IN 2012 SAYS DANISH SHIP FINANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its annual shipping survey Danish Ship Finance said that the current outlook for the Dry Bulk market seems unlikely to foster higher rates in any ...
Monday, 12 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first days of March appear to be more encouraging for dry bulk operators, but the outlook is still gloomy for the rest of year with earnings for ...
Sunday, 11 March 12
FREIGHT RATES FOR INDONESIA TO INDIA WILL CONTINUE TO REMAIN FIRM- VISTAAR
COALspot.com - This week saw another upward trend with all indices up except for the Cape index.
The BDI was up by 6.87 pct closing at 824 points ...
Friday, 09 March 12
MINING IN INDONESIA: RESTRICTION ON FOREIGN INVESTMENT - SUNIL K KUMBHAT
COALspot.com - Recently Govt has passed regulation instructing foreign mining companies to reduce their ownership stake.
The regulation known as ...
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Showing 4811 to 4815 news of total 6871 |
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- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- London Commodity Brokers - England
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- PTC India Limited - India
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
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