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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$/ldt", it concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Wednesday, 17 July 13
NEWCASTLE COAL EXPORTS FELL 3.85% ON WEEK
COALspot.com: Newcastle port in Australia has loaded 2,860,149 tons of coal for the week ended 0700 hours 15 July 2013, Newcastle Port Corp. s ...
Wednesday, 17 July 13
TORN BETWEEN A CREDIT CRUNCH AND SUSTAINABLE GROWTH - GEORGE DERMATIS
COALspot.com: In 2012 China expanded at a rate of 7.8%, its worst annual performance in 13 years, raising criticism over the newly appointed governm ...
Tuesday, 16 July 13
TAKE - OR - PAY CONTRACTS CONTINUE TO INCENTIVISE AUSTRALIAN COAL PRODUCERS DESPITE POTENTIAL NEGATIVE CASH MARGINS - WOOD MACKENZIE
Australia's coal production has continued to grow, despite lower coal prices in 2013. Global investors and suppliers are therefore questioning whet ...
Monday, 15 July 13
INDONESIAN GOVERNMENT HAS REVISED DOWN ITS JULY BENCH-MARK COAL PRICE TO US$ 81.69 PER MT
COALspot. com - Indonesian Coal Price Reference dropped 3.75 % and hitting a 2013 low. The Indonesian government has revised down its owned coal ben ...
Monday, 15 July 13
INDO COAL SWAPS ARE STRUGGLING FOR RIGHT DIRECTION
COALspot.com – Indo coal swaps are struggling to find the right direction. Sub-Bit Indonesia coal swaps (FOB ) for average August 2013 d ...
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- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Parliament of New Zealand
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- CNBM International Corporation - China
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
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