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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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Sunday, 18 March 12
BUKIT ASAM'S NET PROFIT IN 2011 ROSE 54% TO US$ 339.56 MILLION
COALspot.com - Company revenue for the period January - December 2011 amounting to Rp 10.6 trillion (approximately US$ 1,164,835,164.84) recorded an ...
Saturday, 17 March 12
THE FREIGHT RATES FOR INDONESIA TO INDIA REMAINED FIRM - VISTAAR SINGAPORE
COALspot.com - The market continued to be firm and all segments were up except for Cape Index which was down by 2.46 pct closing at 1,466 points.
...
Saturday, 17 March 12
INDIAN GOVT FINALIZES DRAFT BILL FOR COAL REGULATOR - PTI
The coal sector would soon get a regulator as the government has finalised a draft bill for the purpose, Coal Minister Sriprakash Jaiswal said Wedne ...
Friday, 16 March 12
THE PACIFIC MARKET IS FIRMING UP - FEARNLEYS AS
Handy
A slightly positive trend was seen last week in the Atlantic. Skaw-Passero deliveries fixed around USD 3k to US Gulf, while US Gulf deliveres ...
Thursday, 15 March 12
RAINS AVERAGE SELLING PRICE OF COAL WENT UP BY 22 % IN 2011
COALspot.com - PT. Resource Alam Indonesia Tbk, an Indonesian CCoW (3rd Generation) holder reported Wednesday a 171 percent increase in net profits ...
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- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
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