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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, 09 March 12
SHIP OWNERS LOOKING TO CHINA FOR REVIVAL, WHILE THEY KEEP SELLING OLD SHIPS FOR SCRAP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With China’s economic policy plan for the future on every ship owner’s mind, at least those involved in the dry bulk industry, the lates ...
Thursday, 08 March 12
INDONESIA'S COAL SECTOR CAN BENEFIT FROM CLEARER REGULATIONS - FITCH RATINGS
Fitch Ratings says Indonesia's coal mining sector should continue to see strong growth prospects but can benefit from clearer and more predictable ...
Thursday, 08 March 12
DRY BULK MARKET ON THE RISE; CHINAS COAL IMPORTS COULD INCREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on rising back to healthier levels yesterday, with the BDI (Baltic Dry Index) the industry’s benchmark, marking its 8 ...
Wednesday, 07 March 12
INDONESIA COAL BENCHMARK PRICE GAINS FOR SECOND MONTH
COALspot.com - Indonesia raised the monthly coal reference price for sales in March by 1.15 percent, the second increase since February.
The Mini ...
Wednesday, 07 March 12
INDONESIA TO LIMIT FOREIGN OWNERSHIP IN MINES TO 49 PERCENT WITHIN 10 YEARS OF PRODUCTION
COALspot.com - Foreign holders of mining licenses in Indonesia have to divert 51% of their stakes to Indonesian government or domestic entitie ...
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Showing 4816 to 4820 news of total 6871 |
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- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Australian Coal Association
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Deloitte Consulting - India
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- ASAPP Information Group - India
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
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