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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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Wednesday, 07 March 12
ASSESS ASIAS POTENTIAL, DEVELOPMENTS AND APPETITE FOR SHALE AT SHALE GAS SUMMIT
Press Release - Assess Asia’s Potential, Developments and Appetite for Shale at Shale Gas Summit on 23-24 Apr, 2012 in Beijing
China is rep ...
Wednesday, 07 March 12
3RD MOZAMBIQUE COAL CONFERENCE
3rd Mozambique Coal Conference
2-4 July 2012 | Joaquim Chissano International Conference Centre , Maputo, Mozambique
http://www.immevents.com/mo ...
Wednesday, 07 March 12
DRY BULK MARKET KEEPS UP TIMID REBOUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its rising momentum yesterday, rising for the eighth straight session, on the back of renewed demand for smaller bulk c ...
Wednesday, 07 March 12
BUKIT ASAM EYES 39% RISE IN COAL SALES - INSIDER STORIES
Insider Stories reported that, PT Bukit Asam Tbk is scouting a 39% increase in coal sales volume to 18.66 million tons this year from last year with ...
Wednesday, 07 March 12
PETROSEA SEALS US$188 MIO CONTRACT - INSIDER STORIES
Insider Stories reported that, coal mining contractor PT Petrosea Tbk has secured a US$188 million additional contract from its affiliated firm PT S ...
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- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
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