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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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Tuesday, 27 December 11
MINERS MAKE CASE FOR RESUMING CONTRACT NEGOTIATIONS - THE JAKARTA POST
The Jakarta Post reported that, problems with the renegotiation of mining contracts in the country are far from over, as agreements on several cruci ...
Tuesday, 27 December 11
COAL SHIPMENT OF TIANJIN PORT REACHED 6.72 MLN TONNES IN NOVEMBER - STEEL HOME / HELLENIC SHIPPING
Tianjin port shipped 6.72 million tonnes of coal in November, decreasing 600,000 tonnes versus 7.32 million tonnes in October, while up 21.09% or 1. ...
Tuesday, 27 December 11
NEW CLAUSE PUBLISHED FOR SLOW STEAMING - BIMCO
Many owners and operators faced with high bunker prices are considering implementing slow steaming regimes to save fuel and to assist with capacity ...
Monday, 26 December 11
NEW EXPORT TAX PLAN GREETED WITH PRAISE AND CRITICISM - THE JAKARTA POST
The Jakarta Post, one of the Indonesia's leading english news paper reported that, both praise and criticism showered the government’s plan t ...
Sunday, 25 December 11
THERMAL COAL PRICES GAINED UP TO 4.32 PERCENT
COALspot.com - globalCOAL index gained 4.32 percent to US$106.36 per ton in RBCT, benchmark for South Asia and West Europe markets, for the week end ...
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Showing 4911 to 4915 news of total 6871 |
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- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- The University of Queensland
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
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