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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, 01 February 12
2% OF IBPS TOTAL CONCESSION AREA CONTAINS TOTAL COAL RESOURCE OF 56.1 MILLION TON
COALspot.com - PT. Britmindo, a mine consulting firm, has finalized PT. Insani Bara Perkasa (IBP) first JORC (Joint Ore Reserves Committee) res ...
Tuesday, 31 January 12
THERE ARE MANY GOOD REASONS FOR COAL IN GERMANY - DR CIESLIK
COALspot.com - "The year 2011 was again marked by many changes on the markets and energy policies, at times in line with expectations, but at o ...
Tuesday, 31 January 12
DRY BULK MARKET KEEPS FALLING FOR WORST MONTH IN YEARS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market didn't manage to put a halt in its downfall, with the industry's benchmark, the BDI (Baltic Dry Index), posting yet another fa ...
Monday, 30 January 12
CHINA'S HUNGER FOR COAL LEAVES DENT IN PENNSYLVANIA'S SUPPLY - THOMAS LESKIN
With the price of heating oil on the rise, one of Pennsylvania's greatest natural resources - coal - is in high demand, and not just locally.
Et ...
Saturday, 28 January 12
WILL FREIGHT MARKET STABILIZE FROM NEXT WEEK?
COALspot.com - The markets continued to soften with BDI at 663 points down by 15.78 pct closing at 726 points and cape index was down by 5.73 pct cl ...
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- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Australian Coal Association
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- The University of Queensland
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Planning Commission, India
- London Commodity Brokers - England
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Economic Council, Georgia
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- White Energy Company Limited
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
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