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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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Monday, 05 March 12
SOUTHGOBI ANNOUNCES AGREEMENT TO SELL ITS THERMAL COAL TSAGAAN TOLGOI DEPOSIT FOR US$ 30 MILLION
SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) announced today an agreement to sell its thermal coal property, the Tsagaan Tolgoi Deposit to Modun Re ...
Monday, 05 March 12
SOME RESOURCE TITANS NOT THRILLED WITH INDONESIAN EXPORT BAN - THE JAKARTA GLOBE
The Jakarta Globe reported that, local representatives of major business associations in East Kalimantan have protested a government regulation that ...
Monday, 05 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
An air of optimism poured in the market this week for dry bulk shippers with the Baltic Dry Index recording daily gains during the end of February b ...
Sunday, 04 March 12
SE ASIA WAS FIRM FOR TRIPS TO INDIA AND CHINA - VISTAAR
COALspot.com - This week saw another upward trend with all indices up and generally market was firm.
The BDI was up by 7.38 pct closing at 771 po ...
Friday, 02 March 12
DJMBP HAS ANNOUNCED SECOND BATCH OF CLEAR N CLEAN CERTIFIED MINERS
COALspot.com - The Directorate general of mineral & coal of Indonesia has announced second batch of companies who have passed IUP Clear and Clea ...
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Showing 4826 to 4830 news of total 6871 |
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- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Economic Council, Georgia
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- The University of Queensland
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
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