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