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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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Friday, 25 November 11
DISPUTE BETWEEN GIANT MINING FIRMS ENDS IN LAHAT - THE JAKARTA POST
The Jakarta Post reported that, prolonged dispute taking place in the South Sumatra regency of Lahat and involving two giant mining companies PT Buk ...
Friday, 25 November 11
DRY BULK MARKET LOSING STEAM, FAST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It’s been a week of falls for the dry bulk market this one, leaving ship owners with a sour taste in their mouths, as evidence of a recovery i ...
Thursday, 24 November 11
INDONESIA/INDIA SPMX TC AROUND $ 7/8K AND AROUND $ 12/13.00 PMTS ON VOYAGE BASIS - FEARNLEYS
Handy
Last week ended on a positive note in the Atlantic however the activity levels are somewhat reduced. Owners are asking in excess of USD ...
Thursday, 24 November 11
DRY BULK MARKET KEEPS LOSING STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was lower once again on Wednesday, with the industry’s benchmark, the Baltic Dry Index (BDI) ending the session down by 1. ...
Tuesday, 22 November 11
NTPC TO BUY 2 MMT OF IMPORTED COAL FOR ITS FOUR PLANTS
COALspot.com - NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government of India, the largest thermal power generati ...
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- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Planning Commission, India
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
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