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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, 01 March 12
BUKIT ASAM TARGETS EUROPEAN INVESTORS
COALspot.com - PT. Bukit Asam (persero) Tbk, Indonesian state owned coal miner is planning to conduct road show in Europe next week to target at Eur ...
Thursday, 01 March 12
INDO-INDIA, LARGE ECO SUPRA CAN FETCH CLOSE TO USD 9K DOP N.CHINA - FEARNLEYS AS
Handy
The Atlantic Handysize market did not see any signs for recovery this week. It is still a major lack of spot cargoes and an oversupply of pro ...
Wednesday, 29 February 12
69 MINERS AGREE TO RENEGOTIATE CONTRACTS - THE JAKARTA POST
The Jakarta Post, one of the leading English news papaer in Indonesia reported that, as many as 60 coal contracts-of-work (PKP2B) and nine non-coal ...
Wednesday, 29 February 12
PUTTING COAL GASIFICATION TO WORK
Clifford Reese of the SSOE Group looks at practical solutions for district energy leaders who wish to implement clean coal technology.
Coal fuels ...
Monday, 27 February 12
COAL MINING PROFITS TOO HIGH, SAYS GOVT - TEMPO INTERACTIVE
Tempo Interactive reported that, Energy and Mineral Resources Deputy Minister of Indonesia Widjajono Partowidagdo has criticized coal-mining compani ...
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- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- PTC India Limited - India
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Central Electricity Authority - India
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