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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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Wednesday, 11 September 13
ASIA - PACIFIC THERMAL COAL MARKET TO REMAIN OVERSUPPLIED IN NEXT 12 MONTHS - FITCH RATINGS
COALspot.com: Fitch Ratings says the Asia-Pacific thermal coal market will remain oversupplied in the next 12 months because strong production has b ...
Tuesday, 10 September 13
COAL EXPORTS AT AUSTRALIA'S NEWCASTLE PORT SLIP 30.31% ON WEEK TO 2.36 MMT
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port down 30.31 per cent week on week to 2.36 million mt f ...
Tuesday, 10 September 13
WORLDWIDE COAL CONSUMPTION RISES SHARPLY - RA DR. ERICH SCHMITZ
By: RA Dr. Erich Schmitz, Verein der Kohlenimporteure (Germany Coal Importers Association)
World hard coal market in the first half of 2013: worl ...
Monday, 09 September 13
REBOUND IN NEWBUILDING ORDERS HASN'T HURT DRY BULK MARKET PROSPECTS, BUT SHIP OWNERS SHOULD STILL BE CAUTIOUS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Since the start of 2013 and up until the end of August, one thing has really caught the headlines in the dry bulk market, except of course, the frei ...
Sunday, 08 September 13
Q3 2014 THERMAL COAL SWAPS : STEADY DIRECTION
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery up 1.88 percent month on month. The swap was moved ...
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- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- The University of Queensland
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Australian Coal Association
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- White Energy Company Limited
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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