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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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Wednesday, 14 December 11
MINER TOBA BARA SEJAHTRA PLANS IPO IN 1ST HALF OF 2012 - THE JAKARTA GLOBE
The Jakarta Globe reported that, Coal miner Toba Bara Sejahtra is aiming high next year, hoping to capitalize on renewed bullish sentiment in the lo ...
Wednesday, 14 December 11
TIMAH PLANS TO BOOST ITS COAL PRODUCTION TO TWO MILLION TONS PER ANNUM - SOURCES
COALspot.com - Timah plans to boost its coal production to two million tons per annum. The company also expects to acquire coal concession with mini ...
Wednesday, 14 December 11
BORNEO RESOURCE INVESTMENTS LTD. FINALIZES ACQUISITION OF INTEGRA PRIMA
COALspot.com - Borneo Resource Investments Ltd., announced that it has finalized the acquisition of an additional 1,300 hectare coal mining concessi ...
Tuesday, 13 December 11
BERAU COAL SCOUTS US$1.61 BIO SALES - INSIDER STORIES
Insider Stories reported that, coal mining company PT Berau Coal Energy Tbk (BRAU), that is 85% owned by London-listed company Bumi Plc, estimates a ...
Tuesday, 13 December 11
CAPESIZES AND PANAMAXES LEAD DRY BULK MARKET HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched closer to the 2,000 mark on Monday, with Panamaxes rebounding firmly and leading the gains. As a result, the industry&rsq ...
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- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- The University of Queensland
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
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