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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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Saturday, 08 September 12
RIO TINTO COMPLETES ACQUISITION OF BHP BILLITON'S INTERESTS IN RICHARDS BAY MINERALS
Rio Tinto has doubled its holding in Richards Bay Minerals (RBM) following the completion of its acquisition of BHP Billiton’s entire inte ...
Friday, 07 September 12
HBA GAINS $ 1.56 PER MT IN SEPTEMBER
COALspot.com - The Indonesian government’s declared coal reference price has gained US$ 1.56 per MT M-o-M. This is the first gain ...
Thursday, 06 September 12
SOME ANCHORED PANAMAX VESSELS WAITING FOR CARGOS TO COME
Handy
According to Fearnleys weekly report, in the smaller segments Fearnleys sees little to no changes since last week. There are still entering s ...
Thursday, 06 September 12
DRY BULK CARRIERS STILL IN HIGH DEMAND AMONG SHIP OWNERS, BUT NEWBUILDING ACTIVITY SLIDES IN AUGUST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The slide of the dry bulk market this year hasn't abated ship owners' appetite for dry bulk carriers, as evidenced by the steady interest expresse ...
Tuesday, 04 September 12
SHIP OWNERS' COMPETITION LEADS TO TANKER FIXTURES BELOW OPERATING COSTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners operating in the VLCC tanker markets are increasingly finding it difficult to obtain even breakeven rates for their vessels, as competit ...
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- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Australian Coal Association
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
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