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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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Tuesday, 01 May 12
VIETNAM FEARS IT MAY NOT SEEK COAL SUPPLIES - TBKTSG / VIETNAMNET BRIDGE
TBKTSG / VietNamNet Bridge reported that, with five coal-run thermopower plants under construction, PetroVietnam alone would need 18 million tons of ...
Sunday, 29 April 12
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The BDI continued to go up with the support of Panamax/Supramax and was up by 8.34 pct closing at 1,156 points.
The cape index was ...
Sunday, 29 April 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS FOR MAY 2012 DELIVERY WAS STABLE THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps for May deliveries stable this week, according to DSP of SGX AsiaClear OTC Coal Swaps. In the me ...
Friday, 27 April 12
BUKIT ASAMS NET INCOME UP 14% IN 1Q 2012 (UNAUDITED)
Press Release - PT Bukit Asam (Persero) Tbk, announced the Consolidated Financial Statements and Subsidiaries per 31 March 2012 (Unaudited).
Reve ...
Thursday, 26 April 12
AUSTRALIAS COKAL EXPANDS MET COAL POTENTIAL INTO WEST KALIMANTAN
COALspot.com - Global metallurgical coal group Cokal Limited (Cokal) (ASX:CKA) announced today it has completed the acquisition of 75.2% of PT Silan ...
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- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Economic Council, Georgia
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Marubeni Corporation - India
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