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