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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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Thursday, 01 March 12
BUKIT ASAM TARGETS EUROPEAN INVESTORS
COALspot.com - PT. Bukit Asam (persero) Tbk, Indonesian state owned coal miner is planning to conduct road show in Europe next week to target at Eur ...
Thursday, 01 March 12
INDO-INDIA, LARGE ECO SUPRA CAN FETCH CLOSE TO USD 9K DOP N.CHINA - FEARNLEYS AS
Handy
The Atlantic Handysize market did not see any signs for recovery this week. It is still a major lack of spot cargoes and an oversupply of pro ...
Wednesday, 29 February 12
69 MINERS AGREE TO RENEGOTIATE CONTRACTS - THE JAKARTA POST
The Jakarta Post, one of the leading English news papaer in Indonesia reported that, as many as 60 coal contracts-of-work (PKP2B) and nine non-coal ...
Wednesday, 29 February 12
PUTTING COAL GASIFICATION TO WORK
Clifford Reese of the SSOE Group looks at practical solutions for district energy leaders who wish to implement clean coal technology.
Coal fuels ...
Monday, 27 February 12
COAL MINING PROFITS TOO HIGH, SAYS GOVT - TEMPO INTERACTIVE
Tempo Interactive reported that, Energy and Mineral Resources Deputy Minister of Indonesia Widjajono Partowidagdo has criticized coal-mining compani ...
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- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
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