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