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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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Thursday, 26 April 12
BUKIT ASAMS 1Q OPERATING PROFIT MARGIN HAS INCREASED BY 6% TO RP. 1 TRILLION
COALspot.com - PT. Bukit Asam (Persero), the Indonesia’s state owned coal miner's 1Q, 2012 revenue has increased by 31% to Rp. 3.02 trillion ...
Thursday, 26 April 12
TAIPOWER TO BUY 1.15 MILLION TONS OF 5000 GAR COAL
COALspot.com - Taiwan Power Company intends to procure 1.125million tons of sub-bituminous coal for Taipower thermal power plant through open tender ...
Thursday, 26 April 12
TAIPOWER TO BUY 375,000 MT OF 4800 GAR COAL
COALspot.com - Taiwan Power Company intends to procure 375,000 metric tons of low sulfur sub-bituminous coal for Taipower thermal power plant ...
Thursday, 26 April 12
ADK SHIPPED 28,000 TONNES OF COAL THIS MONTH
COALspot.com - Orpheus Energy (ASX:OEG) has announced that four coal barges carrying a total of approximately 28,000 tonnes of ADK (Alam Duta K ...
Thursday, 26 April 12
DRY BULK CARRIERS RENTER FLEET AFTER IDLING, ON MARKETS RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be back on track, not only solidifying the gains of the past couple of weeks, but also racing to new heights, recuperra ...
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- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- White Energy Company Limited
- Eastern Coal Council - USA
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
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