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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, 18 October 13
WOOD MACKENZIE FORECASTS CHINA WILL OUTWEIGH THE REST OF THE WORLD FOR BASE METALS DEMAND BY 2017
China set to account for 52% of 117mt base metals market by 2017
China is on track to exceed rest of the World demand by 2017, becoming the singl ...
Friday, 18 October 13
DRY BULK MARKET ON "PAUSE" MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been on "pause" mode over the past week, after China's return from the week long holidays. The industry's benchm ...
Friday, 18 October 13
US PRODUCED 6.7% MORE COAL W-W
COALspot.com – United States the world’s second largest coal producer produced approximately 18.9 million short tons (mmst) of coal in a ...
Thursday, 17 October 13
CAPESIZE: RATES ARE AGAIN MOVING UPWARDS - FEARNRESEARCH
Handy
Activities were obviously slowed down in the Pacific basin. There were only few coal movements which fixed around USD 15-16k for ships in Sin ...
Thursday, 17 October 13
SGX TO LAUNCH "SGX THERMAL COAL FUTURES" NEXT MONDAY
COALspot.com: SGX is to launch two thermal coal futures contracts, SGX API 8 CFR China Coal Index Futures and SGX IHS McCloskey Indonesian Sub-bit F ...
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- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- The University of Queensland
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
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