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