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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, 22 December 11
DRY BULK MARKET KEEPS LOSING TRACTION AHEAD OF HOLIDAY SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept retreating in the middle of the week, as charterers seem to be looking towards the holiday season and the start of the new ye ...
Tuesday, 20 December 11
THE COAL IMPORT INTO CHINA WAS QUIETER AS COAL STOCKS WERE AT HIGH LEVELS - BRS
The BDI ended the week at 1888 points (-1.8%), the BCI corrected to 3572 (-3.4%), the BPI was up at 1,775 (+3.6%), the BSI dropped to 1193 (-3.0%) a ...
Tuesday, 20 December 11
INDIA IMPORTS 66.41 PERCENT MORE COAL FROM INDONESIA LAST MONTH - SOURCES
COALspot.com: Indonesia, the world largest coal exporter, shipped 33.476* mln mt of coal in November, which is slightly higher than its Octobe ...
Monday, 19 December 11
KOPEX COMMITS ADDITIONAL ONE MILLION DOLLAR FOR PT TRANSCOAL MINERGY
COALspot.com - Mining contractor Kopex has agreed to extend a further US$1 million to finance the remainder of the expanded drill program at PT Tran ...
Monday, 19 December 11
PLN WILL NO LONGER BUY COAL FROM TRADERS
COALspot.com - Indonesia's state electricity company PT Perusahaan Listrik Negara will no longer allow traders to become their suppliers, said, its ...
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- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Planning Commission, India
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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