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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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Saturday, 12 November 11
DRY BULK MARKET REGAINS SOME OF THE LOST GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market managed to edge forward yesterday, putting an end and halting the losses accumulated over the course of the past weeks, which ha ...
Friday, 11 November 11
PETROCOM ENERGY PLANS $40M TO BUILD COAL PLANT IN CILEGON - JP
The Jakarta Post reported that, Hong Kong-based Petrocom Energy Ltd has unveiled plans to invest up to US$40 million on a proposed coal-blending fac ...
Friday, 11 November 11
GOVT WAITS LEGAL DECISION ON BUKIT ASAM, ADARO DISPUTE - JP
The Jakarta Post reported that, The government says that it will not interfere in the settlement process of the dispute between state coal miner PT ...
Thursday, 10 November 11
INDONESIAN REFERENCE COAL PRICE FELL AGAIN
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the November 2011 Indonesian Coal Reference Price for thermal coal at U ...
Tuesday, 08 November 11
COAL MINER ABM INVESTAMA PLANS $290M PUBLIC OFFERING - JG
The Jakarta Globe reported that, ABM Investama, an Indonesian coal miner controlled by the Hamami family, plans to raise as much as Rp 2.6 trillion ...
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- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- White Energy Company Limited
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
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