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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, 20 September 13
DRY BULK MARKET REACHES NEW HEIGHTS THIS WEEK STANDING AT THREE-YEAR HIGH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The biggest rally of the dry bulk market in more than three years have brought back joy among ship owners, especially those active in the Capesize m ...
Friday, 20 September 13
US COAL PRODUCTION SLIGHTLY UP WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer produced totalled approximately 20.30 million short tons (mmst) of ...
Friday, 20 September 13
COLOMBIA SHIPPED 31.14 MILLION TONS OF THERMAL COAL IN H1
COALspot.com : Colombia’s coal exports fell by 20.59 percent in June 2013 compared to Colombia’s May's export of 7,633,579 MT.
Colom ...
Thursday, 19 September 13
CAPESIZE : AVERAGE DAILY EARNINGS HAVE GAINED ALMOST USD 6K WOW - FEARNLEYS
Handy
The rates in Feast are still firm this week even the activity calmed down a bit as chrtrs are not in a rush to cover even their end Sept carg ...
Wednesday, 18 September 13
IRON ORE AND ZINC ARE BEST PERFORMING MINING SECTORS IN CURRENT LOW PRICE, HIGH COST ENVIRONMENT - WOOD MACKENZIE
With the fall in commodity prices, cash margins in the mining industry have come under pressure. Accordingly, producers and investors are placing in ...
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- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Indonesian Coal Mining Association
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