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