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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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Sunday, 08 September 13
BALTIC INDEX UP ON HIGHER CAPESIZE, PANAMAX RATES
COALspot.com : The freight market continued saw one of the biggest rally last week with Cape Size taking the lead followed by Panamax.
The BDI wa ...
Friday, 06 September 13
DRY BULK MARKET REACHES NEW YEAR-HIGHS ON THE BACK OF INCREASED CAPESIZE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been on the rise once again, but this time around any new increase of freight rates translates into new year-highs, thus bri ...
Friday, 06 September 13
US PRODUCED APPROXIMATELY 90.80 MMST OF COAL IN AUGUST
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.90 million short tons (mmst) of ...
Thursday, 05 September 13
INDONESIAN COAL EXPORTS UP BY 6.72 PERCENT IN JULY
COALspot.com: Indonesia, the world's largest multi grade coal exporter shipped 35.268* million tons of coal in July 2013. Indonesian coal exp ...
Thursday, 05 September 13
HANDY: NICKEL ORE WAS PUSHING THE FAR EAST MARKET - FEARNLEYS
Handy
Nickel Ore was pushing the Feast market, several ships were fixed from low teens to $14k. Indo/India was still supported by bauxite, while th ...
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- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
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