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