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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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Wednesday, 10 April 13
US COAL CONSUMPTION TO INCREASE FROM 889 MMST IN 2012 TO 948 MMST IN 2013 AND 957 MMST IN 2014 - EIA
Based on estimates for the first quarter of 2013, American coal production has continued to decline.
Total production is down 9.9 million short t ...
Wednesday, 10 April 13
DRY BULK FREIGHT RATES SEEN MOSTLY STABLE IN THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS WORLDWIDE
In its latest report, BIMCO forecast that for the coming six weeks, Capesize time charter average rates will remain subdued around $4,500-8,500 per ...
Monday, 08 April 13
SUB-BIT INDONESIA COAL SWAPS: UPWARD TREND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 2.71 percent and CFR South China coal shipment&nbs ...
Sunday, 07 April 13
CHARTER RATES ARE UNDER PRESSURE DUE TO DECLINING DEMAND - VISTAAR
COALspot.com - The freight market continued to fall further with all the indices down.
The BDI was down by 5.38 pct closing at 861 points and the ...
Friday, 05 April 13
SGX API 8 CFR SOUTH CHINA COAL SWAPS TO GO LIVE
COALspot.com - The Exchange has announced that the SGX API 8 CFR South China Coal Swap will go live for clearing on SGX-DC starting from 29 Ap ...
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- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Australian Coal Association
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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