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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, 21 March 13
HANDY : RBCT ROUNDS FIXED AT $ 9000 + 300K BB - FEARNRESEARCH
Handy
The Atlantic market remains firm with cargoes seen to support healthy rates as per last week. The USG-Feast was at USD 25k and Black Sea-Feas ...
Wednesday, 20 March 13
NTPC TO IMPORT SEVEN MILLION TONS COAL FOR FOUR MONTHS
COALspot.com : NTPC Limited (formerly National Thermal Power Corporation) is the largest Indian state-owned electric utilities company has awarded&n ...
Tuesday, 19 March 13
CHINA GAS PRICE REFORMS AND APAC GAS PRICING - FITCH STREET VIEW
Fitch Ratings says pricing reform in the Chinese gas sector is unlikely to materially impact gas distributors' margins, and low gas prices in the U ...
Tuesday, 19 March 13
NEWCASTLE COAL EXPORTS FALL BY 4.27 PERCENT ON WEEK
COALspot.com - Newcastle port in Australia has loaded 2,365,561 MT of thermal and coking coal for week ended 0700 hours 18 March 2013, Newcast ...
Tuesday, 19 March 13
SHIP PRICES COULD BE CLOSING IN TO REACH THEIR BOTTOM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
One of the latest developments in shipping asset prices has been the reluctance from shipyards to further reduce their price expectations to higher ...
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- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Planning Commission, India
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- McConnell Dowell - Australia
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