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Saturday, 10 August 13
DEMOLITION ACTIVITY TO BE CRUCIAL AGAIN IN PROVIDING SUPPORT TO THE DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 We appear to have forgotten demolition activity this year, with the Baltic Dry Index gaining traction in the latter part of the second half and emerging from the doldrums. Still, newbuilding deliveries are piling up as we approach the year's final stretch, while things aren't looking all that rosy when one takes a look at the orderbook build up in the next couple of years, especially after this year's frantic ordering activity, especially in the dry bulk segment. It seems that most ship owners are prepared to pay the price of a two-year weak market rates during the early stages of their newbuildings' lives and break-even or even profit afterwards. The reason being that this time around, orders are made at much more reasonable prices when compared to the 2007-2008 excess.
According to the latest weekly reports from shipbrokers like Golden Destiny, in the ever so important ship scrapping markets, "benchmark scrap price levels in Indian subcontinent region seem hard to surpass the barrier of $400/ldt for dry cargo since the end of May, while they fell further during the last days of July by loosing $10/ldt. Indications for scrap rates in Indian subcontinent region are now $375/ldt for dry and $410/ldt for wet cargo. In China, there has been a soft rise of $5-$10/ldt with rates now at $325/ldt for dry and $340/ldt for wet cargo.
India remains weak with sources suggesting that Alang, for the first seven months of the year, has not even reported half of the number of ships which were beached last year. The stability of Indian Rupee to USD and local steel demand for infrastructure and real estate are the basic fundamentals lying behind the rebound of scrap rates. After government’s intervention, there are hopes for not further depreciation in Indian rupee. Ramadan period is also an important factor for the current soft price momentum, while yards at Pakistan seem full of capacity and Bangladesh is still facing delays in beaching and opening of letters of credit from breakers for delivery of the ship", the Piraeus-based shipbroker said.
In total there were 17 ships reportedly sold for scrap over the course the past week, sporting a total deadweight tonnage of 1,311,419 tons. Five of those ships were dry bulkers, seven were tankers, one was a gas tanker, a couple of them were liners, one was a container and one a Ro-Ro. Demolition activity was down 19% week-on-week, but it was up by 33% in the tanker segment. The main reason for the fall in activity was a 44% decrease of dry bulk carriers' demolition deals. "The largest activity is recorded in the tanker segments by holding 41% share against 29% share from bulk carriers. In terms of deadweight sent for scrap, there has been 7% weekly increase with 3 VLCC tankers sent for disposal, 1 aframax tanker, 1 panamax tanker and 1 panamax bulker. India is reportedly to have won 7 of the 17 demolition transactions, Bangladesh 4, Pakistan 4, China 1 and 1 demolition transaction are reported at no revealed destination. Benchmark scrap prices in the Indian subcontinent region: $375/ldt for dry and $410/ldt for wet cargo. Scrap prices in China hover at $325/ldt ldt for dry and $340/ldt for wet cargo. Notable demolition transactions: LNG Barge FORMENTERA with 2,154ldt achieved in India an impressive price of $510/ldt due to high quantity of non ferrous on board including 386tons of solid aluminum tanks.
At a similar week in 2012, demolition activity was down by 59%, in terms of the reported number of transactions, when 7 vessels had been reported for scrap of total deadweight 366,304 tons with 3 disposals for bulkers, 2 tankers and 2 Ro-Ro. Ship-breakers in Indian subcontinent region had been offering $375-$385/ldt for dry and $400-$410/ldt for wet cargo", Golden Destiny said.
Meanwhile, in a separate report, shipbroker Intermodal noted that "with difficulties still witnessed in much of the Indian Sub-Continent it has been no surprise that demo candidates were receiving ever softer prices from breakers in the region. With steel demand softening further in the region and pressure still mounting from the ever insatiable climb of the Indian Rupee, cash buyers had little choice left but to back down from any impulsive purchases and wait out the “storm” looking for when the market would find its new norm. As it seems, Chinese scrap buyers were more then eager to take up this opportunity to cover the gap, anting up their offers in the hope to attract some of the more high spec dry bulk candidates out there. Prices overall weakened this week, with wet tonnage going for around 340-410$/ldt and dry units seeing levels of about 325-380$/ldt", it concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 25 October 13
U.S. YEAR-TO-DATE COAL PRODUCTION REACHED TOTALLED 803.1 MMST
COALspot.com – United States the world’s second largest coal producer produced approximately 19.10 million short tons (mmst) of coal in ...
Thursday, 24 October 13
PANAMAX: RATES SLIP ACROSS BOTH HEMISPHERES
Handy
We were back from holidays but still not much enquiries in the market. Overall future direction is uncertain. Currently, ships passing Singap ...
Thursday, 24 October 13
SHIP PRICES ARE INCREASING ON THE BACK OF IMPROVED MARKET SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on retreating from its recent highs, ending yesterday at 1,786 points, down 61 points on the day, with Capesizes leadin ...
Wednesday, 23 October 13
DRY BULK MARKET HAS SHOWN SIGNS OF STABILITY - INTERMODAL
Chartering (Wet: Stable+ / Dry: Stable-)
The Dry Bulk market has shown signs of stability this past week, with the sole exception of Capes, rates f ...
Wednesday, 23 October 13
MARKET SENTIMENT IN THE DRY BULK SECTOR REMAINS POSITIVE - YANNIS OLZIERSKY
Market sentiment in the dry bulk sector remains positive despite the latest correction in freight rates for the Capesize sector, which are sliding f ...
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- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
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