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