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