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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$/ldt", it concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 05 July 13
THE DRY BULK MARKET IS GOING FROM STRENGTH TO STRENGTH - INTERMODAL
The Capesize sector has been one that has gone through a wild rollercoaster of emotions this past decade, ranging from the exuberance witnessed duri ...
Thursday, 04 July 13
CHALLENGER SIGNS FORMAL EXCLUSIVE MINING AND MARKETING AGREEMENT FOR ABBR PROJECT IN CENTRAL KALIMANTAN
COALspot.com - Challenger Deep Resources Corp., through its subsidiary PT Bestindo Energy has signed the formal exclusive Mining and Marketing agree ...
Thursday, 04 July 13
ASX LISTED QBL TO ACQUIRE INTERESTS IN MOZAMBIQUE COAL EXPLORATION LICENSES
- QBL to acquire interests in two Mozambique exploration licences prospective for coal
- Licenses located in the highly prospective Zambezi basin, ...
Thursday, 04 July 13
HANDY : INDO/CHINA, CHARTERERS RATING AROUND US$ 10,000 - FEARNLEYS AS
Handy
The Feast market firmed slightly up as mid-July cargos entered the market, but charterers seems not in hurry to cover them and looking for ch ...
Wednesday, 03 July 13
NEWCASTLE COAL EXPORTS DIP 24.79 PER CENT WOW
COALspot.com - Newcastle Coal exports fell 24.79% to 2.33 million tons WoW.
Newcastle port in Australia has loaded 2,332,513 tons of coal for the ...
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- Planning Commission, India
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- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Rio Tinto Coal - Australia
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- Global Green Power PLC Corporation, Philippines
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- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
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- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
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- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
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- PowerSource Philippines DevCo
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- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
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- India Bulls Power Limited - India
- Coal and Oil Company - UAE
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- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- The University of Queensland
- Indian Energy Exchange, India
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- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
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- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
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- Billiton Holdings Pty Ltd - Australia
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- CNBM International Corporation - China
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- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
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- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
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