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