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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, 05 March 12
SOUTHGOBI ANNOUNCES AGREEMENT TO SELL ITS THERMAL COAL TSAGAAN TOLGOI DEPOSIT FOR US$ 30 MILLION
SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) announced today an agreement to sell its thermal coal property, the Tsagaan Tolgoi Deposit to Modun Re ...
Monday, 05 March 12
SOME RESOURCE TITANS NOT THRILLED WITH INDONESIAN EXPORT BAN - THE JAKARTA GLOBE
The Jakarta Globe reported that, local representatives of major business associations in East Kalimantan have protested a government regulation that ...
Monday, 05 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
An air of optimism poured in the market this week for dry bulk shippers with the Baltic Dry Index recording daily gains during the end of February b ...
Sunday, 04 March 12
SE ASIA WAS FIRM FOR TRIPS TO INDIA AND CHINA - VISTAAR
COALspot.com - This week saw another upward trend with all indices up and generally market was firm.
The BDI was up by 7.38 pct closing at 771 po ...
Friday, 02 March 12
DJMBP HAS ANNOUNCED SECOND BATCH OF CLEAR N CLEAN CERTIFIED MINERS
COALspot.com - The Directorate general of mineral & coal of Indonesia has announced second batch of companies who have passed IUP Clear and Clea ...
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Showing 4826 to 4830 news of total 6871 |
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- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Australian Coal Association
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Planning Commission, India
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- VISA Power Limited - India
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
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