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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, 13 June 13
HANDY: SHORT PERIOD WERE FIXED AT AROUND USD 9000 LEVEL
Handy
Despite falling rates for bigger sizes, the Supras in Atlantic are seeing some improvements with fresh biz. US Gulf positions fetching tick a ...
Thursday, 13 June 13
BIMCO EXPECTS SUBDUED CAPESIZE EARNINGS FOR THE COMING WEEKS - HELLENIC SHIPPING NEWS
Bulk is not only about China even though it is a key driver. In this section, we have taken a closer look at the European seaborne coal markets, whi ...
Thursday, 13 June 13
RIO TINTO AGREES SALE OF EAGLE PROJECT FOR AN ESTIMATED US$325 MILLION IN CASH
COALspot.com - Rio Tinto has reached a binding agreement to sell its Eagle project to Lundin Mining Corporation for an estimated US$325 million in c ...
Thursday, 13 June 13
HARD COAL IMPORTS RISE SHARPLY IN GERMANY IN Q1 2013 - COAL IMPORTERS ASSOCIATION
Coal-fired Power Plants in Germany: Pillars of the Grid and the Energy Turnaround; Hard Coal Consumption and Hard Coal Imports Rise Sharply in Germa ...
Wednesday, 12 June 13
INDONESIAN COAL PRICE REFERENCE SLIDES TO 2013 LOW
COALspot.com - Indonesian Coal Price Reference continues to take its lumps this month, dropping about 0.54 % and hitting a 2013 low. The Indonesian ...
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- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- White Energy Company Limited
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Thai Mozambique Logistica
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
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