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