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