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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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Thursday, 25 July 13
CAPESIZE : PACIFIC AND ATLANTIC RATES ARE HOLDING STEADY - FEARNLEYS AS
Handy
The Far East market remains quiet even if some Indo coal trip orders were fed in the market at early this week. Prompt ships passing Singapor ...
Thursday, 25 July 13
SUMMER LULL CHIPPING AWAY RECENT GAINS IN DRY BULK FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In what seems to be establishing as a permanent trend, at least for the time being, the dry bulk market kept on retreating yesterday, even if this r ...
Tuesday, 23 July 13
NEWCASTLE'S COAL EXPORTS CLIMB 17.82% ON WEEK, PORT'S DATA SHOWS
COALspot.com: Newcastle port in Australia has loaded 3,369,865 tons of coal for the week ended 0700 hours 22 July 2013, Newcastle Port Corp. s ...
Monday, 22 July 13
DRY BULK MARKET DIFFICULT TO MAINTAIN POSITIVE DRIVE CLAIMS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has seen a significant recovery in recent weeks, leading most ship classes to earnings above their operating expenses, thus brin ...
Monday, 22 July 13
INDO COAL SWAP FOR AUGUST 13 DELIVERY GAINED ON WEEK BUT LOST ON DAY AND MONTH
COALspot.com – Sub-Bit Indonesia coal swaps (FOB ) for average August 2013 delivery slightly up on week but fell on day and month on Fri ...
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- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Interocean Group of Companies - India
- MS Steel International - UAE
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Parliament of New Zealand
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- White Energy Company Limited
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
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