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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, 07 February 13
CHINA NDRC APPROVED 10 BILLION YUAN POWER GENERATION PROJECTS
NDRC of China currently announced that some of power grid and power station in Jiangxu, Sichuan and Anhui Province would be newly constructed or ext ...
Thursday, 07 February 13
CAPESIZE : MORE ACTIVE WEEK IN THE PACIFIC - FEARNLEYS AS
Handy
The Atlantic market remained stable with no significant movement in rates. Rates from USG to FEast were around USD 18k and Black Sea to Feast ...
Thursday, 07 February 13
WEAK STEEL MARKET MEANS IRON ORE RALLY LIKELY TO END SOON - FITCH
The sharp rebound in iron ore prices over the last couple of months will hurt margins at non-integrated steel producers in the first quarter of 2013 ...
Tuesday, 05 February 13
THE SHIPPING SECTOR IS " NAVIGATING IN STORMY WATERS" - PWC
The vulnerabilities of the global economy have been exposed and have more than played their part in making 2011 one of the worst years of shipping i ...
Tuesday, 05 February 13
NEWCASTLE PORT COAL SHIPMENTS DROPPED BY 10.77 PERCENT W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,412,497 MT of thermal and coking coal for week ended 0700 hours 4 February 2013, Newca ...
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- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
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