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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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Thursday, 17 November 11
KOMIPO INVITES BIDS FOR 500K MT OF COAL
COALspot.com - Korea Midland Power Co. Ltd.(KOMIPO) is inviting bids for the supply of 500,000 Metric Tons of minimum 5700 kcal/kg coal of NAR bases ...
Thursday, 17 November 11
INDONESIAN GOVERNMENT PLANS TO ISSUE MORATORIUM ON COAL MINING LICENSE
COALspot.com - Energy and mineral resources ministry is plans to issue a moratorium on the issuance of coal mining licenses, after the anti-graft co ...
Wednesday, 16 November 11
KRISHNAPATNAM PORT BECOMES DEEPEST DRAFT PORT IN INDIA
COALspot.com - Krishnapatnam Port in its quest to be the best port in India has increased its draft to 17.5 meters, according to E-Mail statement fr ...
Wednesday, 16 November 11
CHINA'S INDONESIA COAL IMPORTS RISE IN OCTOBER
COALspot.com: Indonesia, the world largest coal exporter, shipped 31,162,688 MT of coal in October 2011.
China was a largest importer of Indonesi ...
Wednesday, 16 November 11
TAX OFFICE VOWS TO CRACK DOWN ON COAL MINERS - JP
The Jakarta Post reported that, the Finance Ministry’s Directorate General of Taxation says that it will strengthen its supervision of coal mi ...
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- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- The University of Queensland
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
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