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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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- MS Steel International - UAE
- Posco Energy - South Korea
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- VISA Power Limited - India
- White Energy Company Limited
- ICICI Bank Limited - India
- Minerals Council of Australia
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Trasteel International SA, Italy
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