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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, 20 February 12
COAL BOOM AND ENVIRONMENTAL CONCERN - SUNIL K KUMBHAT
COALspot.com - The dawn of the 21st century has seen a shift in the world's commercial balance of power, with the dominance of the US, Europe and J ...
Sunday, 19 February 12
THE SPOT FIXTURE RATES WERE REPORTED AT HIGH LEVELS - VISTAAR
COALspot.com - "The markets seems to holding back this week appears the momentum which picked up last week may slow down" - Capt. Reddy of ...
Sunday, 19 February 12
INDIKA ACQUIRES MULTI TAMBANGJAYA - INSIDER STORIES
Insider Stories reported that, PT Indika Energy Tbk (INDY) announced that wholly-owned subsidiaries have signed a conditional sale and purchase agre ...
Friday, 17 February 12
COLOMBIA COAL PRODUCTION, EXPORTS JUMP IN 2011: GOVT - COLOMBIA REPORTS
Colombia Reports reported that, colombia's coal production jumped 15.4% in 2011 to 85.8 million tonnes versus the previous year while exports rose ...
Thursday, 16 February 12
GEARING UP FOR THE EMERGING OIL & GAS OPPORTUNITIES IN MYANMAR
Press Release - Myanmar Ministry of Energy and Centre for Management Technology (CMT) to Co-host MOGP (Myanmar Oil, Gas & Power) Summit on 28 - ...
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- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- White Energy Company Limited
- Parliament of New Zealand
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Minerals Council of Australia
- Posco Energy - South Korea
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
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