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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, 08 June 12
MINISTER DENIES COAL EXPORT TAX PLAN, ENDORSES RESTRICTIONS - THE JAKARTA POST
The Jakarta post, one of the leading english news paper in Indonesia reported that, Energy and Mineral Resources Minister Jero Wacik has denied that ...
Friday, 08 June 12
NO IMMEDIATE IMPACT ON ADARO'S RATING FROM BEP TRANSACTION - FITCH RATINGS
Fitch Ratings has said that PT Adaro Indonesia's (Adaro, 'BB+'/ Stable) ratings are not immediately affected by its parent PT Adaro Energy Tbk's ...
Thursday, 07 June 12
DRY BULK MARKET FALLS FOR 10 STRAIGHT SESSION ON OVERSUPPLY PROBLEMS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A resurgence of oversupply, coupled with national holidays in various parts of the world has contributed to yet another fall of the dry bulk market ...
Thursday, 07 June 12
COAL EXPORT TAX NOT RATIONAL: MINISTER - THE JAKARTA POST
Trade Minister Gita Wirjawan has criticized as irrational the idea to restrict coal exports by imposing an export tax, According to The Jakarta post ...
Thursday, 07 June 12
BY 2022 PLN IS EXPECTED TO BURN AROUND 125 MILLION TONS OF COAL
COALspot.com - Indonesia's state owned electricity company's (PLN) coal consumption is expected to reach 125.7 million tons by 2012.
Nur Pamudj ...
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- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- The University of Queensland
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
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