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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, 01 January 12
IS INDIA FOLLOWING INDONESIA TO STANDARDIZE COAL PRICES TO GET MAXIMUM BENEFITS?
COALspot.com - Coal India limited, an Indian state owned and world largest coal producer has introduced gross calorific value (GCV) based pricing me ...
Saturday, 31 December 11
GLOBALCOAL NEWC INDEX SURGED 2.32 PERCENT
COALspot.com - globalCOAL index in Newcastle Port, benchmark for Asian market, ended substantially higher, surged 2.32 percent to US$115.47 per ...
Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE
The Jakarta Globe, one of the leading english news paper in Indonesia reported yesterday, shareholders of Indonesian coking coal miner Borneo Lumbun ...
Friday, 30 December 11
CENTRAL GOVERNMENT SHOULD ISSUE PERMITS - THE JAKARTA POST
The Jakarta Post reported that, business associations from both the palm oil and mining sectors have suggested that the central government should re ...
Thursday, 29 December 11
NEW VESSELS DELIVERED ARE FLOODING THE OCEANS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As expected 2011 has been the year that newbuilding deliveries peaked and kept "flooding" the market, thus supressing freight rates and er ...
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- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Economic Council, Georgia
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- The University of Queensland
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
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