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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, 22 February 12
RAW COMMODITY EXPORT BAN SPARKS SMELTER BUILDING BOOM IN INDONESIA ANTARA / THE JAKARTA GLOBE
Antara / The Jakarta Globe reported that, as the government gears up to ban all exports of unprocessed commodities, Indonesia will see 12 new ...
Tuesday, 21 February 12
THREAT ISSUED ON MINERAL FIRMS AS GOVT PLANS EXPORT BAN - THE JAKARTA POST
The Jakarta Post, one of the leading english news papaer in Indonesia reported that, the government has given mineral producers three months to subm ...
Monday, 20 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU
The dry market experienced one more disappointing week with tonnage oversupply and limited cargo demand that pushes earnings for shipping players to ...
Monday, 20 February 12
JATENERGY SECURES FIRST 8000-TONNE COAL SALES CONTRACT FOR JONGKANG MINES
8000-tonne contract with Singaporean buyer signed for March delivery
50% down payment due in five working days
Production continues at both Jongka ...
Monday, 20 February 12
DIAN SWASTATIKA ACQUIRES ANDALAN LESTARI - INSIDER STORIES
Insider Stories reported that, PT Dian Swastatika Sentosa Tbk (DSSA), controlled by Fuganto Widjaja, son of Indra Widjaja, reported a 99.83% takeove ...
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- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Economic Council, Georgia
- Parliament of New Zealand
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Planning Commission, India
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
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