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