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Friday, 21 September 12
SHIP BREAKING ACTIVITY REACHES NEW RECORDS, AS ALREADY 2012 LEVELS HAVE SURPASSED THE WHOLE OF 2011 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The vast oversupply of vessels, most notably in the dry bulk shipping sector, has forced ship owners to intensify their efforts towards recycling their older vessels and, thus, helping remove part of the tonnage which has been looking for cargoes to no avail. With the dry bulk carrier fleet still on the rise, in a much faster pace than the increase of cargoes available, owners have no choice but to make room for the younger vessels entering the fleet.
According to the latest update on demolition activity from Athenian Shipbroker, “the total estimated capacity of tonnage recycled up to now this year has surpassed the whole turn-round for the year 2011, however sentiment in the recycling market continues to weaken as is evident from the sliding prices on offer by both Indian and Pakistani breakers. The Bangladeshi market seems to have been hit the hardest, with levels presently ranging between usd 370-395/ton and plenty of vessels that are already in cash buyers hands awaiting resale to local shipyards. while China remains pinned down due to local market woes, it is expected that even more tonnage will be diverted from the Pacific Basin towards the still more active sub-continent. What the impact of the continuous stream of vessels heading for demolition will spell for prices on offer remains to be seen” said the shipbroker.
In a separate report Lion Shipbrokers noted that “this week’s subcontinent’s rates continue to deteriorate (about $10 since last week) due to vast oversupply of tonnage. Cash buyers and scrap-yards alike, are “cherry-picking” available ships in the demo-market, thus driving prices further down. Rates are currently ranging between $380-$400 for bulkers, $395-$410 for tankers & $395-$405 for container vessels. China is soft paying $290-$305 while Turkey has weaken by $10 paying $305-$310 for bulkers, $320-$330 for containers & tankers.
Meanwhile, in the newbuilding markets this week, according to Clarkson Hellas, "whilst the World's shipbuilders converged in Hamburg last week for SMM 2012, with seemingly busy diaries, we are unfortunately yet to see too much fresh interest emerge from this and new enquiry continues to remain somewhat subdued. Despite this, the week has still seen some reports of new orders being placed, although these in the slightly more niche sectors such as the Car Carrier, Shuttle Tanker and Gas markets, which continue to offer the shipyards support. The overall market conditions continue to remain a challenge for the shipyards. Over the next 6 months, we continue to expect to see a consolidation of shipyard capacity (within China in particular), as a number of yards look to scale back their production and in doing so try to limit their exposure to lower priced contracts" mentioned Clarkson Hellas.
It added that "that being said, the number of contracts placed YTD stands at only 60% of last year’s equivalent (725 vessels in 2012 to date, compared to 1156 contracted Jan‐Sep 2011) and because of this there remains a large amount of production capacity still available from the yards in 2014. As witnessed throughout the year, competition amongst the yards will continue to remain fierce within the conventional sectors. Levels of demand in the market continue to remain limited and are being caused by the tight fiscal circumstances that many owners find themselves forced to operate in. This situation remains unlikely to change in the short term and therefore do expect competitively priced opportunities, including for the very latest economical designs, will become increasingly prevalent amongst the yards as they look to fill their outstanding production slots.
In terms of reported business; In Tankers, clients of AET Tanker Holdings are reported to have placed an order for a pair of 120,000dwt DP2 Shuttle Tankers at an un‐named Korean Shipyard. The yards, which we understand to be Samsung Heavy Industries will deliver the vessels from within 2014. Pricing has not been disclosed. In Gas, Hudong are reported to have won the order from China Shipping LNG for 4 x 174,000cbm LNG carriers. The vessels are expected to deliver from 2015 and through to 2017 but again no specific pricing has been mentioned, for this domestic order. The deal is understood to have options for a further 2 units attached.
Finally, Hyundai Mipo are reported to have won an order for one additional 6,600 CEU PCC from their existing client Ray Shipping. This will bring the total number of these units on order at the yard to 6 vessels and this latest unit will also deliver in 2014" the report concluded.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 28 September 12
DRY BULK SECOND HAND VESSELS ON HIGH DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the demise of the dry bulk market and the collapse of freight rates since the beginning of 2012, on the back of record breaking newbuilding ...
Thursday, 27 September 12
MINING RE-COMMENCES AT ORPHEUS' B2 EAST KALIMANTAN COAL PROJECT
- B2 project overburden removal completed and coal exposed
- Coal getting has commenced with target production of 30,000tpm
- Orpheus to re ...
Thursday, 27 September 12
HANDY: THE PACIFIC MARKET IS GETTING WEAKER WITH UPCOMING GOLDEN WEEK HOLIDAYS - FEARNLEYS AS
Handy
Yet another week with rates softening in all trades. Especially owners with ships open Continent struggle to find employment paying decent mo ...
Thursday, 27 September 12
DRY BULK MARKET LOSES STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The rise of the BDI (Baltic Dry Index), the dry bulk industry’s benchmark during the course of the previous week, proved to be short-lived, as ...
Wednesday, 26 September 12
NEWBUILDING ORDERING ACTIVITY REMAINS SUBDUED ON GLOBAL MARKET UNCERTAINTY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Newbuilding ordering activity has been on the down side during the past few weeks, a trend also noticeable during the course of the past few days, a ...
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- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- The University of Queensland
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- PTC India Limited - India
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Planning Commission, India
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
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