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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, 19 January 12
14TH VOGP MEETING IN HO CHI MINH CITY HANDS OUT LATEST UPDATES AND DEVELOPMENTS IN VIETNAM'S ENERGY INDUSTRY
Press Release: At upcoming 14th Vietnam Oil Gas Power on 27-28 Feb in Ho Chi Minh City the industry’s most influential names including Petrovi ...
Thursday, 19 January 12
DELTA DUNIA SEALS US$820 MIO CONTRACT INSIDER STORIES
Insider Stories reported that, PT Delta Dunia Makmur Tbk (DOID) has announced that its primary operating subsidiary, PT Bukit Makmur Mandiri Utama ( ...
Wednesday, 18 January 12
WARM WINTER ACROSS EUROPE HAS IMPACTED NEGATIVELY COAL DEMAND - BRS
With the Chinese New Year just a week away, all markets are slowing down. The drop in freight rates for all sizes has been significant over the past ...
Wednesday, 18 January 12
DRY BULK MARKET'S DRAMA CONTINUES IN START OF NEW WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A flurry of newbuilding deliveries, coupled with a slow start to the new year, a typical trend for the dry bulk market, has led the industry's benc ...
Monday, 16 January 12
BUMA MINED 2.7 MILLION TONS COAL LAST MONTH
COALspot.com - BUMA has mined 2.7 million tons (-14.1% YoY) coal last month and removed 25.8 million bcm (-5.6% YoY) overburden, according to compan ...
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- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
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