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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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Monday, 28 November 11
CITING CONTRACTS, MINING FIRMS ARE NOT PAYING ROYALTIES UNDER LAW - THE JAKARTA POST
The Jakarta Post reported that, when the 2009 Law on Minerals and Coal was endorsed, hopes that Indonesia could maximize its revenue from the minera ...
Monday, 28 November 11
NEW ENVIRONMENTAL MARINE REGULATIONS TO IMPACT SHIPPING IN 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
August of next year will see some major changes for marine navigation. It’s when the North American ECA will come into force, introducing a 1% ...
Sunday, 27 November 11
INDIA'S KPCL TO IMPORT 50 MMT OF COAL FOR 10 YEARS
COALspot.com - Karnataka Power Corporation Limited (KPCL) will buy 5 million metric tonnes of coal annually for 10 years starting from 2015.
In a ...
Saturday, 26 November 11
INDIAN PORTS ARE BECOME COAL STOCKPILES..!!
COALspot.com - The Indian coal stocks and power tariff situation is the hot topic among the world coal producers as well as Indian coal importers.&n ...
Saturday, 26 November 11
THE FREIGHT MARKETS EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The market were down probably with the sentiments of global financial markets and all segments were down.
The BDI was up down by 4 ...
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- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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