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