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