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