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