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