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Wednesday, 18 December 13
DEMOLITION ACTIVITY SCALED BACK AS FREIGHT RATES RISE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's always been the case that each time we witness a spike in freight rates, demolition activity is decreasing, as owners are looking for more cargoes and are more keen to keeping debt-free older carriers out at sea, since they're generating the most amount of profits. This trend has prevailed once more, as both the dry bulk and the tanker markets, especially for larger vessels have trended higher over the past couple of months.
According to the latest weekly report from shipbroker Golden Destiny, demolition activity over the past few days has been brought to a standstill, as a result of higher freight rates. "Scrap prices hold firm in the subcontinent region, while market fundamentals are not currently supportive for the long term’s solidness. Rupees in India and Pakistan do not encourage end buyers for high offers, while the vague political situation in Bangladesh with upcoming elections on January 5th has put a break on end buyers’ appetite. In China, there is still no pick up of activity with China’s Ministry of Transport, Ministry of Finance, NDRC and MIIT releasing a new scrap policy in order to facilitate the transformation of the country’s shipping industry. The policy will offer subsidies of RMB1,500 per gt to shipping companies that scrap vessels before their expiration dates and at the same time order new vessels. The total tonnage of the new order vessels shouldn’t be less than the total tonnage of scrapped vessels and all the vessels should be Chinese flagged. Half of the subsidy will be paid on completion of scrapping and the other half after the completion of the newbuildings", Golden Destiny noted in its report.
In total, there've been just five vessels disposal, with a total deadweight of 165,684 tons. The number is 58% down on the week, while in terms of dry bulk carriers scrapped, the fall over the previous week is 100%. Meanwhile, in the tanker segment, there were no vessel disposals.
"Benchmark scrap prices in the Indian subcontinent region: $400/ldt for dry and $420-$430/ldt for wet cargo. Scrap prices in China hover at $330/ldt for dry and $340/ldt for wet cargo. At a similar week in 2012, demolition activity was up by 320%, in terms of the reported number of transactions, when 21 vessels had been reported for scrap of total deadweight 544.736 tons with 9 disposals for bulkers, 2 for liner, 5 liners, 4 containers,1 reefer. Ship-breakers in Indian subcontinent region had been offering $375-385 for dry and $410-$415/ldt for wet cargo", Golden Destiny said.
Meanwhile, in the newbuilding ordering activity, contracts have kept on pouring. In total, over the week, there were reported orders for a total of 97 vessels with a deadweight of 6.9 million tons, but 71 of those orders were done at an undisclosed price. The invested capital revealed was about $2,33bn for 26 new orders. (44 bulkers, 28 tankers, 5 gas tankers, 4 passenger/cruises and 16 special projects). Newbuilding activity is up 8% on the week and 288% on the year. The largest volume of newbuilding activity is reported in bulk carrier segment with focus in the capesize/ kamsarmax/ ultramax segments. Orders for bulk carriers held 45% share of this week’s ordering activity, while tankers took an additional 19%. But, tanker ordering has commanded the biggest rise of 75% versus the previous week.
According to a weekly report from Clarkson Hellas, it was "another week of ordering across the sizes in the dry bulk market, with orders to report from Ultramax up to Capes. Starting with the larger sizes and Beihai are understood to have taken an order for one firm plus one option 250,000 DWT VLOC from Sincere Navigation Corporation Enterprises with delivery of the firm vessel in 2016. Beihai have also signed one firm plus one option 180,000 DWT Capesize from Bao-Island Enterprises for 2016 delivery for the firm unit. We understand that Korea Line Corporation have placed orders for three firm 207,000 DWT Newcastlemax and one firm 180,000 DWT at Daehan S.B. with deliveries from 2Q 2016 onwards. For Kamsarmax Clients of Great Eastern Shipping are understood to have placed an order of three firm units at Jiangsu New YZJ for deliveries spreading from 2Q 2016 to3Q 2016. More Kamsarmax orders were there for Jinling from SDTR Marine, a JV between Shandong Spg and Transcenden, for six firm plus four option 82,000 DWT BCs. The deliveries for this orders starts from 4Q 2015 till 4Q 2016 for the firm vessels. For smaller sizes Horizon Denizcilik are understood to have signed four firm 64,000 DWT BCs with Zhejiang Yangfan for deliveries in 2015 & 2016, and finally Primebulk has also placed orders of four firm Ultramax at New Times in China.
In wet, Korean yards have taken some significant amount of orders starting with Hyundai Mipo’s contract of nine firm 50,000 DWT and five firm 40,000 DWT Product Tankers with BP Shipping. The deliveries are spread in 2016 and 2017. Also, it is understood that DSME also received orders from Tsakos Energy Navigation for five firm plus four option 112,700 DWT Crude Oil Tankers which are being built against Statoil business, with deliveries from 2Q 2016 onwards", Clarkson Hellas said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Wednesday, 08 January 14
SHIPPING: THE ABSOLUTE BOTTOM OF THE CYCLE WAS REACHED AND PASSED - GEORGE LAZARIDIS
COALspot.com: To many in the industry 2013 has been the turning point in the market where the absolute bottom of the cycle was reached and passed.
...
Tuesday, 07 January 14
INDONESIA RAISES COAL PRICE THIS MONTH
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has increased government declared coal bench mark price by US$ 1.59 / MT ...
Tuesday, 07 January 14
NEWCASTLE COAL TERMINAL'S COAL EXPORTS SLIDE TO 3.54 MMT W/E 30 DECEMBER 13
COALspot.com: In the week ended December 30, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.54 ...
Tuesday, 07 January 14
US COAL OUTPUT SLIDES 9 PCT WEEK ON WEEK, EIA SAYS
COALspot.com – United States the world’s second largest coal producer, produced approximately 17.8 million short tons (mmst) of coal in ...
Monday, 06 January 14
ARGUS LAUNCHES SPOT CFR EAST COAST INDIA COAL ASSESSMENTS
COALspot.com: Global energy and commodity news and price reporting agency Argus has announced today that, the company has launched CFR coal assessme ...
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- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- The University of Queensland
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Planning Commission, India
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Standard Chartered Bank - UAE
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