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