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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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Tuesday, 11 June 13
COAL: NO SIGN OF RECOVERY - GABRIELLA
COALspot.com: We attended the 19th Annual Coaltrans Asia Conference, where we found most of the speakers were not very optimistic on the outlook for ...
Tuesday, 11 June 13
NEWCASTLE PORT SHIPPED MORE COAL WEEK ENDED 11 JUNE 2013
COALspot.com - Newcastle port in Australia has loaded 3,104,509 tons of coal for the week ended 0700 hours 11 June 2013, Newcastle Port Corp. ...
Tuesday, 11 June 13
OUTLOOK FOR CAPESIZES LOOKS GRIM, DESPITE FALLING IRON ORE PRICES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Things aren't looking all that rosy for the dry bulk market, despite a stronger volume of iron ore imports during the months of March and April, as ...
Sunday, 09 June 13
CFR SOUTH CHINA COAL SWAP IS UNDER PRESSURE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average July 2013 delivery have lost 0.03 percent week on week but gained 0.07 pe ...
Sunday, 09 June 13
IRON ORE DEMAND: WEAK; COAL MOVEMENT: STEADY TO INDIA AND CHINA - CAPT. REDDY
COALspot.com - The freight market was fairly steady with BDI up by 0.37 per cent closed at 812 points this week.
The Cape index was also ended in ...
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- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- PTC India Limited - India
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
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