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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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Sunday, 22 January 12
FREIGHT MARKET DROPPED TO THE LOWEST LEVEL SINCE 2008
COALspot.com - "The markets continued to soften almost reaching 2008 levels breaking the 1,000 point mark", said Capt. Reddy of Vistaar Sh ...
Saturday, 21 January 12
ASIAS PREMIER COMPREHENSIVE OPEN CUT MINING CONFERENCE SCHEDULED FOR FEBRUARY 2012
As the only such conference in the region for miners and service providers, IBC Asia’s Open Cut Mine Planning & Operational Excellence con ...
Saturday, 21 January 12
COAL MARKETS CELEBRATES A DECADE OF BRINGING BUYERS & SELLERS TOGETHER
In 2012, IBC Asia’s premier Coal Markets conference series – Asia’s only globally focused coal import, export and supply chain eve ...
Saturday, 21 January 12
SAMIN TAN COMPLETES BUMI PLC TAKEOVER - INSIDER STORIES
Insider Stories reported that, Indonesian coking coal miner PT Borneo Lumbung Energi & Metal Tbk (BORN), that is controlled by stellar businessm ...
Thursday, 19 January 12
SOUTHGOBI RESOURCES SELLS MORE THAN FOUR MILLION TONNES OF COAL IN 2011, 58% MORE THAN 2010
COALspot.com - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) has successfully complets year 2011 on guidance in terms of coal sales and production.
...
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- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Australian Coal Association
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
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