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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
PANAMAXES AGAIN EARN MORE THAN CAPESIZES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest surge of demand for Panamaxes has led the dry bulk market to new higher ground on Monday, with the Baltic Dry Index (BDI) reaching 1,090 ...
Wednesday, 25 April 12
CHINA IMPORTS 9.76 MMT AND INDIA IMPORTS 7.03 MMT OF INDONESIAN COAL LAST MONTH
COALspot.com: Indonesia, the world largest coal exporter, shipped 30.64* million tons of coal in March 2012, compared to 27.12* million tons i ...
Monday, 23 April 12
ALTURA ENTERS INTO AGREEMENT TO ACQUIRE 2 COAL PROJECTS IN SOUTH KALIMANTAN
COALspot.com - Altura Mining Limited (ASX: AJM) has announced that it has entered into an agreement to acquire a further two (2) Mining Permits (IUP ...
Sunday, 22 April 12
THE FREIGHT MARKET EXPECTED TO REMAIN FIRM NEXT WEEK - VISTAAR
COALspot.com - The BDI has broken the psychological barrier of 1000 points and closed at 1067 points.
The cape index was slightly down by 2.48 pc ...
Saturday, 21 April 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS DROP 2.61 PERCENT THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps fell for a fifth day, according to DSP of SGX AsiaClear OTC Coal Swaps.
CFR South China Coal ...
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- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- The University of Queensland
- White Energy Company Limited
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Makarim & Taira - Indonesia
- Australian Coal Association
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Minerals Council of Australia
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
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