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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, 01 February 12
2% OF IBPS TOTAL CONCESSION AREA CONTAINS TOTAL COAL RESOURCE OF 56.1 MILLION TON
COALspot.com - PT. Britmindo, a mine consulting firm, has finalized PT. Insani Bara Perkasa (IBP) first JORC (Joint Ore Reserves Committee) res ...
Tuesday, 31 January 12
THERE ARE MANY GOOD REASONS FOR COAL IN GERMANY - DR CIESLIK
COALspot.com - "The year 2011 was again marked by many changes on the markets and energy policies, at times in line with expectations, but at o ...
Tuesday, 31 January 12
DRY BULK MARKET KEEPS FALLING FOR WORST MONTH IN YEARS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market didn't manage to put a halt in its downfall, with the industry's benchmark, the BDI (Baltic Dry Index), posting yet another fa ...
Monday, 30 January 12
CHINA'S HUNGER FOR COAL LEAVES DENT IN PENNSYLVANIA'S SUPPLY - THOMAS LESKIN
With the price of heating oil on the rise, one of Pennsylvania's greatest natural resources - coal - is in high demand, and not just locally.
Et ...
Saturday, 28 January 12
WILL FREIGHT MARKET STABILIZE FROM NEXT WEEK?
COALspot.com - The markets continued to soften with BDI at 663 points down by 15.78 pct closing at 726 points and cape index was down by 5.73 pct cl ...
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- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- ASAPP Information Group - India
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- White Energy Company Limited
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
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