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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, 22 February 12
RAW COMMODITY EXPORT BAN SPARKS SMELTER BUILDING BOOM IN INDONESIA ANTARA / THE JAKARTA GLOBE
Antara / The Jakarta Globe reported that, as the government gears up to ban all exports of unprocessed commodities, Indonesia will see 12 new ...
Tuesday, 21 February 12
THREAT ISSUED ON MINERAL FIRMS AS GOVT PLANS EXPORT BAN - THE JAKARTA POST
The Jakarta Post, one of the leading english news papaer in Indonesia reported that, the government has given mineral producers three months to subm ...
Monday, 20 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU
The dry market experienced one more disappointing week with tonnage oversupply and limited cargo demand that pushes earnings for shipping players to ...
Monday, 20 February 12
JATENERGY SECURES FIRST 8000-TONNE COAL SALES CONTRACT FOR JONGKANG MINES
8000-tonne contract with Singaporean buyer signed for March delivery
50% down payment due in five working days
Production continues at both Jongka ...
Monday, 20 February 12
DIAN SWASTATIKA ACQUIRES ANDALAN LESTARI - INSIDER STORIES
Insider Stories reported that, PT Dian Swastatika Sentosa Tbk (DSSA), controlled by Fuganto Widjaja, son of Indra Widjaja, reported a 99.83% takeove ...
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- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Australian Coal Association
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
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