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