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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, 01 September 13
INDONESIA TO INDIA SPOT FREIGHT STAYS FIRM THIS WEEK - VISTAAR
COALspot.com: The freight market continued to be firm with even though the BDI and Cape index dropped by about 3 pct week on week.
The BDI was do ...
Friday, 30 August 13
US COAL PRODUCTION FELL 0.48 PERCENT WEEK ON WEEK - EIA
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.70 million short tons (mmst) of ...
Thursday, 29 August 13
HANDY: THE PACIFIC MARKET STARTED HEALTHY THIS WEEK - FEARNRESEARCH
Handy
The Pacific market started healthy this week. We have seen many bauxite, iron ore and few coal fixtures. Ships passing Singapore were able to ...
Thursday, 29 August 13
NO RATING IMPACT ON INDONESIAN ENERGY COMPANIES FROM RUPIAH DEPRECIATION - FITCH RATINGS
Fitch Ratings says the credit profiles of rated Indonesian energy and utilities companies, including thermal coal producers, will largely remain una ...
Wednesday, 28 August 13
THE BDI HAS MOVED TO LEVELS CONSIDERABLY STRONGER THAN THE BEGINNING OF THE YEAR - INTERMODAL
By George Bassakos
SnP Broker - Intermodal
We have already reached the end of August and whilst students are preparing themselves for another sc ...
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- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- White Energy Company Limited
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
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