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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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Wednesday, 06 June 12
INDONESIAN GOVERNMENT'S DECLARED COAL PRICES CONTINUING ITS DECLINE
COALspot.com - Indonesian HBA fell to lowest level since January 2011 in June 2012. The monthly coal reference price for coal sales this month ...
Monday, 04 June 12
MITRABAHTERA SUBSIDIARY SECURES CONTRACT FROM BERAU COAL - INSIDER STORIES
Insider Stories reported that, PT Mitra Alam Segara Sejati, a subsidiary that is 60% owned by PT Mitrabahtera Segara Sejati Tbk (MBSS), has secur ...
Sunday, 03 June 12
TTI ESTABLISHES COAL TRADING & MARKETING OFFICE
COALspot.com - TTI has officially established its coal trading, marketing-office in Jakarta, Indonesia. PT. Gunung Tinggi Coal is the TTI’s fi ...
Sunday, 03 June 12
FREIGHT MARKET CONTINUING ITS DECLINE
COALspot.com - The BDI continued to fall for the fifth straight week and the BDI fell by 2.57 pct this week closing at 904 points.
The Cape Size ...
Friday, 01 June 12
TNPL HAS SECURED 300K MT OF 6000 GAD COAL AT US$ 81 CNF TUTICORIN
COALspot.com - An India based coal trader Adani has offered the lowest price of US$ 81.00 per metric ton for calorific value of 6000 GAD and 15 perc ...
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- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- PTC India Limited - India
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Planning Commission, India
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- VISA Power Limited - India
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
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