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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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Thursday, 26 January 12
ABM INVESTAMA SEALS US$100 MIO CONTRACT - INSIDER STORIES
Insider Stories reported that, PT Reswara Minergi Hartama, a subsidary of PT ABM Investama Tbk (ABMM), has sealed a 2 million tons of coal export co ...
Thursday, 26 January 12
DRY BULK MARKETS DOWNFALL KNOWS NO LIMITS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s demise seems to have no visible end, as China’s Lunar Year Holidays continue this week, thus leaving demand with n ...
Wednesday, 25 January 12
CLEAN AND CLEAR MINING PERMITS TO BE COMPLETED END OF 2012 - BISNIS.COM
Bisnis.com reported that, the government plans to announce 700 mining permits with "clean and clear" status without overlapping on other p ...
Tuesday, 24 January 12
ANOTHER SEVERE DROP IN THE CAPESIZE - BRS
The lunar year celebrations and the high number of new building deliveries (more than 35 Capes so far in January as owners push 2011 deliveries into ...
Tuesday, 24 January 12
BUKIT ASAM FY11 NET PROFIT SURGES 50% - INSIDER STORIES
Insider Stories reported that, the state-controlled PT Bukit Asam Tbk (PTBA) estimated to book Rp3 trillion (approximately US$ 335,570,469) net prof ...
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- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- SMC Global Power, Philippines
- Bhatia International Limited - India
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- VISA Power Limited - India
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
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