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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, 07 March 12
ASSESS ASIAS POTENTIAL, DEVELOPMENTS AND APPETITE FOR SHALE AT SHALE GAS SUMMIT
Press Release - Assess Asia’s Potential, Developments and Appetite for Shale at Shale Gas Summit on 23-24 Apr, 2012 in Beijing
China is rep ...
Wednesday, 07 March 12
3RD MOZAMBIQUE COAL CONFERENCE
3rd Mozambique Coal Conference
2-4 July 2012 | Joaquim Chissano International Conference Centre , Maputo, Mozambique
http://www.immevents.com/mo ...
Wednesday, 07 March 12
DRY BULK MARKET KEEPS UP TIMID REBOUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its rising momentum yesterday, rising for the eighth straight session, on the back of renewed demand for smaller bulk c ...
Wednesday, 07 March 12
BUKIT ASAM EYES 39% RISE IN COAL SALES - INSIDER STORIES
Insider Stories reported that, PT Bukit Asam Tbk is scouting a 39% increase in coal sales volume to 18.66 million tons this year from last year with ...
Wednesday, 07 March 12
PETROSEA SEALS US$188 MIO CONTRACT - INSIDER STORIES
Insider Stories reported that, coal mining contractor PT Petrosea Tbk has secured a US$188 million additional contract from its affiliated firm PT S ...
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- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- GVK Power & Infra Limited - India
- Australian Coal Association
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- PTC India Limited - India
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
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