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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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Saturday, 10 August 13
MOODY'S: OUTLOOK FOR US COAL INDUSTRY CHANGES TO STABLE FROM NEGATIVE
Moody's Investors Service has changed its outlook for the US coal industry to stable from negative, the rating agency says in a new report, "U ...
Friday, 09 August 13
US PRODUCED 4.00 PERCENT LESS COAL ON WEEK
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.00 million short tons (mmst) of ...
Thursday, 08 August 13
HANDY : NO POSITIVE SENTIMENT FOR THE FAR EAST MARKET - FEARNRESEARCH
Handy
No positive sentiment for the Far East market. There are a number of ships coming open in SE Asia this week and owners rating mid/high USD 8k ...
Thursday, 08 August 13
MALAYSIA HOSTS THIRD ANNUAL ASIAN SUB-BITUMINOUS COAL USERS' GROUP CONFERENCE
Press Release : The third Annual Asian Sub-Bituminous Coal Users’ Group (ASBCUG) conference convenes Sept. 30-Oct. 3 at the Eastern & Orie ...
Wednesday, 07 August 13
HANDIES : FINDING IT DIFFICULT TO SUSTAIN THEIR PREVIOUS LEVELS - KONSTANTINOS KONTOMICHIS
Broker's insight
by Konstantinos Kontomichis,
SnP Broker
Entering the most predictable month of the year, as expected the seasonal effects ha ...
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- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- ASAPP Information Group - India
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- SMC Global Power, Philippines
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Anglo American - United Kingdom
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
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