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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$/ldt", it concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 06 August 13
UNLEASHING SHALE GAS POTENTIAL AS A GLOBAL ENERGY GAME CHANGER
In its 4th year running, the Annual Shale Gas Conference will bring leaders from North American shale gas operators, key Asian regulators, multi ...
Tuesday, 06 August 13
GBCE APPOINTS BENJAMIN WILEY AS NEW MANAGING DIRECTOR
COALspot.com : GB Clean Energy Ltd. (GBCE) announced today that Mr. Benjamin Wiley has been appointed as Managing Director.
Mr. Wiley has ...
Tuesday, 06 August 13
AUSTRALIAN NEWCASTLE PORT'S COAL EXPORTS FALL 23.16 PERCENT ON WEEK TO 2.26 MMT
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port fell 15.8 percent week on week to 2.26 million mt for ...
Monday, 05 August 13
PAPERLESS TRADING (ELECTRONIC BILLS OF LADING) - FREQUENTLY ASKED QUESTIONS ("FAQS") - UK P&I CLUB
A number of Members have contacted the Club with queries regarding the use of electronic bills of lading and any potential consequences for P&I ...
Monday, 05 August 13
INDO GOVERNMENT'S DECLARED HBA IN AUGUST '13 FALL TO LOWEST LEVEL SINCE JANUARY '10
COALspot. com - HBA fell to US$ 76.70 this month, the lowest since January 2010. Indonesian Coal Price Reference fell 6.11% and hitting a 2013 ...
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- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- White Energy Company Limited
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
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